[zerkten]

It depends on the reason. If it was an old pharma company with expiring patents and no pipeline of new products to immediately replace them then that's a bad place to be. It's not as big a problem when it's a company that's making money hand over fist. You need to understand whether you are sustaining existing products or building the next set of things.

When you are really early in your career then you are less likely to be affected by big company layoffs. You are a relatively small cost and viewed as someone who might hang around, so are worth investing in. At least, you'll get a shot at filling the boots of the people who left until the better times come around.

EDIT: One other thing to look at is how the company cuts. Cutting a little when deep cuts are needed has a big impact on the day-to-day experience. No one feels safe. If there is a CEO who makes big cuts that seem reasonable for the business (completely ignore the tech) then you are better off.