There are many factors going into such a decision - as a result nobody here can give you a qualified answer without much more detailed info about your life situation, priorities and dreams as well as more specifics about how layoffs likely would be handled by your employer (e.g. generous severance or not?), the larger market for your skills for your industry where you currently live (or would like to live), and many more factors.
On the other hand you could use this occasion to sharpen your situation analysis and decision making skills. For example, put together a decision matrix and fill in the factors you already know, and do some of your own research into the factors that matter in situations like this. - Learning how to do that for your own life decisions will become a valuable life-long skill.
[0] I'm obviously and admittedly presumptive that you're not very experienced in such a decision methodology yet, because I'm assuming that otherwise you'd probably do that rather than ask a bunch of strangers on the Interwebs. :-)
[1] I was in a high level comparable situation to yours some years ago (industry specific downturn), and ended up using that moment to do a formal analysis and decision making process for myself. Looking back at it, that was one of the best life skills pickups for me and has paid back often in personal and work situations since then.