Sad to say, but I was part of a studio layoff this month. I've been laid off before, and I think the initial sting will always occur, but my perspective has changed over the years when these types of things happen. Yes, it is part of the business, but putting it in a new perspective I see it as being given and opportunity to discover something new. My only disappointment is not getting to work with that particularly awesome team again; but it's a small industry and I'm sure we'll get to work together again. :)
To the folks who are left, I wish you all the best!