With the announcement or announcement of announcements of layoffs at bigger organizations seems to indicate it might not be. But if OP isn't looking for a FAANG

With the announcement or announcement of announcements of layoffs at bigger organizations seems to indicate it might not be. But if OP isn't looking for a FAANG job, then they'll probably be fine. My employer, who I don't represent here and so won't mention, is currently looking for positions to fill, so layoffs from FAANG is often to our benefit.