While I hate the idea of people losing their jobs, stepping back for a moment and looking at what they are claiming, its not terribly surprising:

Spencer said the roles affect mostly corporate and support functions

When companies merge, this is kinda needed. You don't need two fully functional HR departments. While the HR staff from the buying company will likely need to expand, it won't be by the same amount as the HR department of the company being bought. As network functions are merged, you probably don't need all of the IT staff which came with the merger. A lot of management functions likely end up merged, meaning redundancies. And this sort of thing is going to move through a lot of the non-project work functions of the company.

Yes it sucks. But, it's to be expected in a merger. Now, whether or not we want this level of consolidation, that's a different ball of wax entirely. The last thing we need is more studios falling under the sway of these massive companies. That's the thing which should be drawing our ire.