Sometimes the reason doesn't need to be "good" in the sense that it's a great reason, but in the sense that it was the right decision.

I worked as a engineer at a huge billion dollar company in a newly created slot. There was 2 on the team and I was the third. Then massive layoffs. Thousands of people let go. I was one of them. Was I "good people" ? I don't know. I like to think I was, that's why I got the position. Of the 3 people on the team, I was the right choice though, least experience with the company's infrastructure, etc.

The real issue at hand was the disconnect between the team manager (who found out he had to let me go the morning it happened and was quite upset about it) and upper executives. Why was adding my position approved by upper executives in the first place if they knew that a month later they would be laying off so many, you would think they would have had a massive layoff of that size in the works for more than just a few days.

So there was no "good reason" other than "cutting cost" but if someone had to be let go, the 2 others on the team deserved the job more than me.