Companies commonly use layoffs as an easy way to get rid of under-performing staff, realize cost savings from previous investments (e.g., automation) ahead of schedule, or efficiently reorganize divisions whose execs fall out of favor. Not going to say this is good, but a <10% layoff is not unreasonable for a healthy company, especially when some business units may be stagnating.
However callous it is, roles on the margin get cut when prospects for growth dim.
However callous it is, roles on the margin get cut when prospects for growth dim.