Yes! I know this one! Happened at the local phone company I worked for 30 years ago, after I left. Corporate HQ in Kansas City, MO was decimating the local branches in a "we're going to treat everybody fairly even though that sucks" move. My old IT gang got slaughtered, only it was worse because many of my former people were contractors who had been "promised" that, if they did well, they would be permanent. Accounting got it worst, because they were all declared "redundant" with consolidations at HQ. Major cluster frak.