When you add the head-cuts at W-S, St. Louis, Cinci, Chicago, and Europe (among others) the number is > 200 let go. This seems to be a partial response to not meeting the earnings numbers that will be released next week (on the 22nd). Word is that the quarter was a "not good".
The i-bankers seem to know this already as the downward pressure on SLE towards 20 is happening this week instead of next week (it is not typical to have this kind of movement (actually any movement) this close to an option expiration day (Decembers are this Friday).
Translated, if the big dogs are "trading down" a stock from the 22.5 Calls to the 20 Calls (and opening up buying on the 20 Puts away from the more expensive 22.5 Puts), I wouldn't go against their momentum. If there is a fixation on 20 today, the 17.5 range will be in vogue for the February options.