"Mass Layoffs" seems...suspect. I haven't heard of a single person in my sphere of influence being hit by layoffs, and I work with a lot of folks. Where did you get your info OP?
Yeah fair enough. My friends partners whole team got let go. According to said friend they weren't the only team. Its admittedly shakey. They are definitely laying people off today though.
From where I sit in game platform tech, I didn't hear about a single layoff on the tech side of the company. Maybe a studio team got axed? That's a relatively regular occurrence and basically non-news in Hollywood.