Ask HN: Where does everyone go after mass layoffs?

I can’t say I understand why trillion dollar companies are doing mass layoffs, but I guess that’s why I’m not a business man. Where do these people get jobs if tens of thousands of people flood the market at the same time? Is it a blood bath? Curious on peoples thoughts who lived through dot com bubble, as I was only about 6 years old. I’ve been through the leetcode grind and system design grind, etc, but with that, is it still even possible to get a good paying tech job in this downturn?