I think it’s an unfair and naive assumption to think VPs all keep their jobs. I’ve seen some pretty nasty game of thrones plays by executive leadership during layoffs due to consolidation of teams and remits. Someone might get a bonus that doesn’t deserve it, but someone is going to get let go at a high level (albeit with a generous severance not offered to the rest of the employees).
Also, when new senior leadership comes in, it’s not uncommon for them to let heads roll at the leadership level to fill out the team with folks they know or trust. I’m not shedding a tear about where those folks will go on to find similar employment, but I think there’s a misconception about how safe those positions actually are.