The layoffs were due to going to 5 Operating Units from 7 Divisions (why have 2 divisions both selling cereal and both selling snacks) and also consumers changing eating habits.
So as the business reorganized (downsized, reduce duplication)so did the areas that support them. IT layoffs were completed at the end of January 2015 (so not more). It was probably not hit as hard as the business since we went through layoffs in our organization 2 1/2 years ago.
So the goal this time was no more than 8 levels from CEO to bottom, manager span of control at least 8 direct reports.
They did offer a nice severance package; 2 months paid to transition your work (you could do in 2 weeks), plus 2 weeks paid severance for each full year of service capped at 52 weeks. Also, if you were within 2 years of turning 55, they would "bridge" you to retirement (when you turned 55 you could retire with full retirement benefits.