Here's my positive spin... I've seen it way too many times at TR, there is a hit and some additional attrition that follows. Things slow down and pick up again - then people start coming back as contractors.
The severance payout may be (and likely will be) a significant sum, you will be making more money as a contractor, almost everyone working here at TR has very transferable skills, no matter what your age age. Things are not that bad - being made redundant surely s---s big time, bit in the grand schema of things many of us will do pretty fine once the dust settles.