Questions: Lies and layoffs

Even though corporate management has decided to keep its employees in the dark about impending layoffs, your supervisor has seen fit to "do the right thing" and entrust the truth to you (or your entire team) -- requesting silence or discretion with the rest of the employees, of course. You appreciate your boss telling you, even though you are now complicit in his rebel cause of secrecy and can't discuss it amongst yourselves for fear of being overheard.

Is it acceptable to lie to your co-workers if asked (possibly point-blank) about impending layoffs?