What do I say about why I left my last job? after 16 years as a recruiter

My whole team was cut and I want to say it calmly. I do not usually post, so bear with me. I have been practising in the mirror. What do you say?

If a company has been in the news for layoffs, you can mention that. Often the interviewer already knows.

I keep it to two sentences: the company cut my team, and here is what I am proud of and what I am looking for next.