with regard to loyalty, sure just about everyone (new hires excluded) can think of someone that has been released from this company over the last three to four years that they thought of as a loyal and knowledgeable employee. I know there have been some poor managers released, but there have also been some real good ones as well as a couple VPs and directors that have been shown the door and got the word that they should look for options before it came to that.
Look at the sales team at this point. Some decent managers released and some good sales folks as well, again there have been others not worth a dime that have also gotten kicked.
Overall if sales is starting to leave that should be the canary in the coal mine for you. I know they had the VP of Sales in the US leave about a year ago, one of the Global Account Managers leave about the same time and it continues with the rank and file. Sales is at the front and hearing it from clients. Don't be the one left sweeping the floor and turning off the lights. Start looking now as cuts are going to ramp up going into Q4 as the C-Suite needs to make their KPIs.
The way this is going to go down - They are going to sell divisions off "not core" in attempts to get banks to extend their credit revolver. (if you remember a couple years back they said they were down to core - guess that target changed). If they get the revolver with the two planned sales it is going to buy them another year or so, if not they are going to have to unload a couple of other divisions until they get a bank to agree their debt is palatable if not it is bankruptcy. Either way it is just a matter of buying time before bankruptcy comes, take a look at the free cash flow - it does not cover the interests on the dept. That hole is only getting deeper.