Layoffs are not fun for anyone and they are never going to be done "right".
I am currently sitting on an amazing team where we should be hearing our fates today. If we are lucky that is.
In order to keep things from being released before plan, upper management has the information and not the directors. So many bosses are waiting for info just like the employees. Does it make it stressful? Yes. Are you glad to know that you might not hear from another teammate that you have lost your job? Yes.
We are losing good people. People many consider family.