Companies have so changed in the last decade or two. It used to be that layoffs were rare at a company that just announced record profits (again) and the CEO received a 20% pay bump. Now it's par for the course. It no longer matters what you've done for the company in the past or what you can do for the company in the future. It's now what will drive the greatest profits today.
In such an environment, no one's job is safe no matter how well you perform. Except senior executives of course, who receive multi-year contracts guaranteeing their jobs and who are paid millions to leave if they really screw things up.
The hypocrisy reeks.