1100 laid off - official statement vs. reality?

So, the news dropped about the 1100 folks being let go. The official line is about 'optimizing' and adapting to new tech making roles redundant. I'm not going to lie, it feels like a punch to the gut, especially if you know people who were affected. We all saw the articles talking about how we're supposedly more productive now, even with fewer people. I'm trying to reconcile that with seeing so many talented colleagues gone. Was this purely a 'productivity' move, or is there more to it? Stock price took a hit too, right after the announcement. Anyone else feel like the narrative doesn't quite add up? Trying to understand the long-term implications for those of us still here. What's the vibe on the ground?