This is a company that has been closing a ton of stores, converting a ton of stores. They don't need nearly as much overhead at corporate as they once did. Everyone there should have been looking to get out. Those who are left should still do so, as this is hardly the end of it, no matter what the jackass at the top tells you. Execs bonuses are now ENTIRELY tied to stock price. They're going to squeeze every ounce of the company.
This. People really need to open their eyes and start being proactive about their own employment.