But this is a good time to remind everyone that you owe zero -- ZERO -- loyalty to a company. Be just as ruthless to them as they are to you.
As an employee know that the company that employs you does not have your best interest in mind. They will dump you as soon as the asymmetry between what you provide to them vs. what they provide to you is no longer in their favor. I mean, it has to be that way, but you need to keep your eyes open to it.
This is a very cynical view, but ultimately, the company couldn't care less about you. You are disposable, and will be disposed-of at the first opportunity it's called for.
Remember that asymmetry can go the other way too. The very moment they are no longer providing high-value to you as an employer you can (and should) start searching for something better, where the asymmetry is more in your favor. You can ditch them just as quickly and easily as they ditch you.
Being a large company, they were able to plan it in such a way as to encourage those close to retirement to leave, those who wanted to jump to go ahead and leave, and minimize the brain drain. They weren't running on a razor thin runway where ever day was bleading cash.
Because one of the downsides of surprize layoff announcements, is that while many execs think they are just removing the lowest performing tier, what actually happens is the top performers who do have options see the writing on the wall and go ahead and jump elsewhere. Cost-cutting achieved but teams lobotomized and further decline ensues.
HR is a profession whose purpose is to turn the process of hiring and employing human labor into a pantomime of financing and procuring capital goods or raw materials. Since their business is treating people like anything but people ("resources", contracts, "headcount", "cycles", etc.), this often slips their mind.
What would really help is that the previous statement were in the form of "by policy, we never discuss the possibility of a layoff" instead of having a policy of lying while you prepare it.
If you have to do layoffs, the very least you can do is treat them like professionals and give good references.