Oh for sure a blessing in disguise. The company is a big steaming pile of you know what. They don't value their employees, never have, never will. The survivors are the good 'ol boys, not the best for the company. Take the hit, brush yourself off and move on, the industry is wide open, but stay the heck away from travel (they're hit the hardest when the economy tanks).
There are companies out there that will value your worth, I was with sabre for many years and left, found a company that values my knowledge, listens and respects me - and pays me a whole lot more than sabre ever did (if you're not one of the good 'ol boys, your bonus stinks even if you're responsible for bringing in multi million $ worth of revenue).
Go, be free, be happy and most of all be value and respected again (what does that look like - did you forget?).