Google has entered the suicide phase of big tech companies. They see a short term downturn in the market and start laying people off, or get some bean counter in who knows the price of everything and the value of nothing.
Successful and long lasting companies retain employees. It's partly self interest, long term employees have a lot of company specific and domain knowledge built up, and tend to be better at long term strategic planning. It's partly because if you want the best people, you need to treat them well, not discard them the moment some accountant says the numbers demand it.
It's a shame, but in time someone else will replace them.