Layoffs are not easy for anyone, no matter which side you are on.
When I worked at Marriott in Philadelphia, I had to lay off 10% of our staff. It was the first time I had to do this.
Every person I had to lay off I knew personally. It was heartbreaking for me to have to impact them and their families.
Employees who are left behind also feel the pain. They have seen it happen and it erodes trust and impacts the culture of the organization.
When you have to lay off employees, help them however you can. Be available personally. Offer references. As an organization, offer help with the transition, such as resume services, counseling, severance packages.
If you get laid off, -develop your skills. Learn as much as you can. Make yourself a good prospect for another company. If you work long enough, you will have something like a layoff impact your career.