There's something to be said, after an initial "reduction in force" happens, for the remaining employees to look ahead and go: OK so I and my team may be at X%

There's something to be said, after an initial "reduction in force" happens, for the remaining employees to look ahead and go: OK so I and my team may be at X% risk of layoffs, but with decent-to-good-to-sometimes-excellent severance pay and at least no prospect of dehumanizing PIPs/whatever, I am happy with those odds. Better than a pervasive dread amongst the whole workforce.