The layoffs that I have seen reported have been reported as being random. I've been involved now in 3 layoffs directly in my career, and 100% of them, the laid off individuals were laid off without regards to skill. The reporting in the media on layoffs happening elsewhere largely matches my experience.

Sure, an argument exists around "you shouldn't've hired that many people", but that is different from an argument of "the hiring process can't discern good hires". The former is a management & long-term planning issue, the latter is how interviews are conducted.