Reality is that a lot of valuable talent just got treated poorly.
It stinks and stings to know that loyalty and excellence is rewarded with a late career purging without regard for much other than a half baked plan to redirect resources.
They have moved out some of the best of the best and will likely replace with much less talent they can pay much less. My guess is there will be a lot of head hunters and competitors after the great wealth of knowledge and talent so keep your chin up.
Another door will open if you're willing to knock, put yourself back out there and chances are the competition will come knocking.