You know it, this is not a legitimate forum and no one here has any real information. Most of the information floating around here can be concluded in this way -
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Layoff are definitely happening, and they will start probably in next couple of weeks.
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Estimated number is 4-5k.
Rest is all blabber and bullshit coming from disgruntled idiots who's asses are on fire because they are aware of their own incompetence and they are insecure about leaving back their fluffy jobs.
Nothing about layoffs is in your hands, all you can do is to accept the reality and start making backup plans. This never was your daddy's company to assure you a life- long safe income. So stop bitching about how others f***ed up your life.
I am honestly surprised by the trolls here. Especially the kind of racism and hate that's been getting out. I can't believe it's coming from someone I may know.
Seriously though, help yourself stop the mounting blood pressure by reading this crap. Rely on info from people you actually know, have some goddamn patience for a couple of weeks, get out of denial and start making alternative plans.
Good luck.