They may have cut themselves. Usually high level cuts are announced as "leaving for an amazing opportunity" or to "focus on family" or similar. That happens a month or two later after a deep layoff round and reorganizing. We'll see if these recent layoffs included executives by Q1 next year. Watch LinkedIn if you're that curious.

Still, it's unfair to the lower levels, including line management, because they don't get that option. It's a "thank you for your service" and a boot out the door.

Note: not all tech companies are like this. Gumroad is an excellent example of a very open and ran-differently business.