Having worked for a large "dead, but didn't know it yet" company in the past: Yup. In the later layoffs, when they had run out of dead wood and were cutting into great, productive workers, it was entirely unclear who the lucky people were. I heard of people getting axed on a thursday who were working at a new place the next week, with higher pay.
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Except these layoffs are not what killed the company.
The company has been dead for a while, reality is just slow to adjust.
Do not think of it as a company dieing but rather thousands of brilliant souls being released from enslavement.
Having worked for a large "dead, but didn't know it yet" company in the past: Yup. In the later layoffs, when they had run out of dead wood and were cutting into great, productive workers, it was entirely unclear who the lucky people were. I heard of people getting axed on a thursday who were working at a new place the next week, with higher pay.