Thread regarding Target Corp. layoffs

I was pulled in last week after coming back from a short vacation and was told my position was "restructured into another position" and basically I was out of a job and they decided to give it to the other team lead involved. "For now" I still have my position and I have to wait to see if someone else will leave and I can go into that position. I asked about a severance package if no position became available and I was told there was nothing like that for me. 12 years of employment and I receive nothing? I offered to step down because they are still hiring for team members, I was told "NO" not an option for me. WTF is going on? Is this going on in other stores?