The companies that tend to have a harder time hiring and may benefit from these layoffs I think are more traditional companies that have SV outposts.

Comcast, Samsung, Microsoft, Clorox, Walmart, Bank of America heck Honda and other Auto manufacturers have large presences in this area and traditionally are not as attractive to a lot of talented engineers as startups or the FANG companies. I'd think that you'd see these guys start picking up a lot of the excess talent if the market started getting flooded.

There's a ton of slack here that would gobble up talent outside of the traditional VC funded group. They're good jobs too if you're looking for stability.