I don't know about your experience, but in my own case, the opposite of this is true, and in a major way. The last company I worked at fired tons of people over

I don't know about your experience, but in my own case, the opposite of this is true, and in a major way. The last company I worked at fired tons of people overseas and it managed to cripple an already withered morale. It may not have hit people as hard as if the person sitting next to them was let go, but I assure you, it was not seen in a positive light.