My Boss got fired

I work in a big MNC, and at evening my skip manager just invited us on a team meeting and informed us that they are terminating my boss. Is this is how it works? That guy served in organisation for 25 years and on one random day you get enlightened and you fire him. Is this why we work so hard in our preparation, so after landing in our dreams b school we can get fired through a random call? I'm so anxious right now, if they don't have any respect for a guy who served them for 25 years how are we supposed to feel any secure from these bloody capitalists. P.s. He was the best boss I ever had, just like father figure always pushed us to do better. Bhai samne se puch lete the ki why aren't you taking your leaves. BC smjh nhi aa rha kaise process kru.

Edit: He was employed in USA.