I got layoff after less than a year with JP Morgan Chase. Nothing to do with performance, just job elimination due to budget cuts. It went from getting a raise in my career to ruining my career. I am too embarrassed to ask my previous employer for many years for my job back.
If you plan to switch your career for higher pay, think before you go. IF POSSIBLE, ensure at least some job security in your contract for more than a year and half. During my new job search, less than a year with an employer makes the next one more worried about your performance even if it is not true.
That said, this can happen to any company or job. But I need to vent.
Best of luck all!