Corporate culture when it comes to layoffs

It's silly season again. Our company just laid off 10 more people. One of my closest friends who has bailed us out of many a precarious situation and has led the way on a bunch of new development work - he was deemed expendable. Obviously no managers were touched. As of this exact moment in time, I still have a job but it's not 11am yet. When the middle managers swan in to take lunch, I'm sure there's going to be more moronic decision making. It just wouldn't be corporate America if any logic or business decisions were used to determine the people to be laid off.