Not when it's 22% of the company. After about 30 minutes in EVERYONE is aware people are getting calls about losing their job and spend their day hearing a trickle of rumors on who just got the call and wondering if their phone is going to be the one to ring next. I've yet to see something like this go down better than making it clear up front (e.g. mass meeting) and come out all at once then having the managers follow up after.