If the economy is doing so great, why are so many companies laying so many people off?

Hunch 1: The economy isn't doing so great, and the layoffs are to stem the damage.

Hunch 2: The economy is fine, but these companies aren't doing so great for some reason. Those laid off should be OK at a smaller company.

Hunch 3: Everything is fine, and the corporate bean counters just so happen to be pruning lopsided, withered branches that just so happen to comprise thousands of employees.