[Spencer]

I really hope this will not be a case of older, experienced people being let go while they only keep the young, newer faces.

Probably not so much a case of them being let go, but them opting to take redundancy (or rather not reapplying for their jobs). The longer you've been with an organisation, the bigger the redundancy payout. Plus if you've got loads of experience under your belt, you'll stand a good chance of getting some decent work once you move on. Or you might just see it as a good opportunity to take early retirement.

It's one of the sad facts when any organisation has a round of redundancies, often those most employable and talented are the first to walk. If you're relatively new in your career, you're more likely to want to stay on and develop.