And that includes them, the people doing the layoffs, who are employees as well. And what we often don't realize is that causing the pain to others most often causes pain to us as well. Human group output and productivity can rely a lot on trust, and if that trust is damaged, it can hinder all productivity.
The last time my company did layoffs they offered the same generous severance package afterwards to anyone else who wanted it. We had three people take the offer.