If you are impacted by this pending layoff, please don't do anything stupid to yourself. Jobs and money can always be replaced. Lives cant. No stupid job is worth it.
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I feel with you guys, I lost my job in the same business end of last year, we were competitors. I found a new job quickly at a much smaller company, really happy now. Trust me, after a long time at a large world famous company, it can feel strange to join a smaller company, but in the end of the day, you still only interact with 100 or less people as an engineer, the size does not really matter. I feel much more free and happy now, no more large corporate BS, all we do makes sense.
Amen brother, go with the flow.