As much you and others (not to point the finger specifically at you
@Davey Jones II
) are up in arms about this (and I agree it sucks), this is exactly how most companies work. Every big company that I have worked for has laid off people either across the board or in one group, when maybe a particular area is doing poorly. My current employer has done this twice now since I started working there a little less than 3 years ago. You would be shocked at how much money they make, like Disney levels or better. However, if one division isn't doing as well as they wanted and they only make umpteenth billions instead of gazillions, cuts all around

Before anyone says that I should find a better employer, they all do this in my industry and probably others too. However, I am lucky, because I make a very livable wage and could sustain unemployment for a bit if needed. The CMs don't, and it really sucks for them. I just hope that it ends soon for their sake or that they find better paying jobs.