Having been through a bunch of tech organizations, this letter is a high watermark for treating people with respect and candour about the business, which is objective thing they share. It goes a long way to positioning people well to manage the change in their own lives.

A rare demonstration of ownership, and it helps anyone laid off demonstrate the kind of culture they can bring with them to their new roles. Anyone who worked in the culture that produces that level of ownership will be a valuable asset wherever they go.