I used to work at a hedge fund that basically screened for mental health during hiring. When we had layoffs, nobody freaked out. We knew we had a good run, we knew severance was good and we knew we'd be highly desirable in the market. So we metabolized the layoffs and went on with our lives.
My job after that was at a scale up that leaned woke (a lot of employees were sold a tenuous connection between our work and a feel good mission). When layoffs happened, it was basically an all out mental health crisis, with everyone feeding into everyone else's anxiety. The facts weren't that different than at the hedge fund but the amount of angst and freaking out was through the roof.
Now at a FAANG, obviously had layoffs recently. The emotional vibe is somewhere between the two above. Coworkers that came from tougher places (finance, Microsoft, Amazon) are holding it together fine. Others are not.
I once heard the analogy of an orange. When you squeeze an orange, orange juice comes out because that's what an orange is made off. If extreme anxiety comes out when you are squeezed, it was there all along.