Mass seasonal layoffs

So at start-up today my warehouse announced they are laying off 100% of white badges by the end of the month. I know when I took this job that it was seasonal but our class was told multiple times that conversions will happen as long as you stayed positive upt and worked hard. I have busted my ass for the last 3 months. My managers have told me multiple times I am a top performer. I was talking to one of the managers and he said that they over hired blue badges at launch and now they have to lay off 600 white badges regardless of preformance. Has anyone ever heard of this happening?

They are opening 2 new buildings in our town one which is currently hiring externally for blue badge but I can't apply because I am still employed 😢. I am hoping they still have positions available or they open it up for transfers by the time I'm let go. They literally walked 60 people out right after start-up and I'm just gonna keep showing up until it's my day.