Upgrade to 10.11.3 kills apps and user data
After upgrading to 10.11.3 this morning my Applications folder is emptied down. No application will run any more. For any app it just says "You can't open the application .. because it may be damaged or incomplete". I run Chrome through the About This Mac dialogue, trying to run it from the Dock won't work. My Documents, Downloads, Dropbox and Pictures folders all appear empty in the Finder.
Is there a way to revert this particular update? I am aware I can do a restore from the backup, but my most recent backup is too old.
MacBook Pro with Retina display, OS X El Capitan (10.11.3)