Eh, this is just anecdotal, but as a manager whose hired people laid-off in the past, IME they're almost always better quality than the usual candidates that come across your desk. So when I see these layoffs I'm like a shark who smells blood. (ok, bad analogy, but I hope you understand I mean no harm).

The most common reason for getting laid off is having the misfortune of working in a department or on a project that no longer aligns with the company's "vision" and that's no fault of the engineer.

While some people might be biased to think the laid-off are poor performing employees, these people are simply buying into the "just-world fallacy" -- why would a bad thing happen to a good worker? But the truth is, while a company might ensure a few "rockstars" survive a layoff, there's plenty of "A" and "A-" talent that gets cut without a thought.