I do not work at Clovis, but I am sorry that the people that do or have previously worked there are suffering through layoffs. It is the worst at any company in any industry, but for whatever there are drastically larger numbers of incapable douchebags in very important positions that fail miserably and take employment away from large groups of those not responsible at all for the failure.
You have a CEO that intentionally prevented a resolution in which almost everyone would have maintained employment at a new corporation. It is always amazing when a person in the position only makes decisions based on personal gain and when it is not enough in their eyes full on destruction for all is an acceptable alternative.