This is bad news for everybody.
The staff who will eventually lose their jobs, of course.
All the staff who, in the meantime go through a period of uncertainty*.
The families of all of those.
All those who depend on the custom of those affected.
And lastly us, as customers:-
The VM staff will be demoralised and unhappy. The service we get before the cuts will suffer.
The staff will be depleted after the changes, which can only affect the service as well.
A sign of the times. More unemployment. Recession looms large in the economy. Very sad.
(*my employer has also recently cut 10% of the workforce - I know how this feels).