I don't think they realize how much of a disruption this is going to cause in the long run.
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It's the Elon Musk process. Cut so much that you need to add 10% back later.
I got laid off from Cargill 9 years ago. Don't fool yourself - Cargill won't miss you. The good friends and coworkers you had will for a while, you'll text each for a bit, suggest happy hours, but rarely get together because life is busy. Cargill will roll on.
Put yourself first. I'm not really "loyal" to any job now. We are all dispensable, and once you come to peace with that, you realize that every job can be dispensable to you as well.
If you think productivity is bad now, just wait....they are going to miss big time.