Generally losing your well paying tech job in the US is terrible and it is definitely traumatic for people. I've fortunately never been part of one, but at my first real career job at a well known tech company I watched co-workers eliminated like this. Not only was it traumatic for them, it was traumatic for our team as well. They received very nice severance packages, but they still had to find another job within 6 months so they could keep the lights on in their homes. It was a great learning lesson for me. All my career moves after that have been preemptive and from the standpoint that I'm on offense at all times. Never feeling stagnant in a position, keeping options open, etc...