Every situation is unique, but I haven't seen this myself and I personally haven't had any problems finding a job after being laid off, twice in the last 20 yea

Every situation is unique, but I haven't seen this myself and I personally haven't had any problems finding a job after being laid off, twice in the last 20 years. Context is important. If 20 out of 120k people get laid off then I might be suspicious of those 20. But if its 20k out of 120k then it's almost certain that whole departments and teams were cut, so it's hard to say anything about the individuals.