Company not doing well! LOTS of layoffs! - Sr. Executive Assistant CSG Employee Review

The company has no new products to sell, no new clients and financially they are not doing well. They are doing MAJOR layoffs. They let go the President and COO, lots of delivery people, lots of executives, etc. Every month they are laying people off. They are also lying to people and telling them they are safe from layoffs. Only to lay them off the following month. Employees are literally being told the company can't afford their salary so they are getting layed off. The CEO is lying to people and then hiding from them. He refuses to meet with executives regarding the layoffs.