Since forever I remember reading in the news that company XYZ 'let go' # thousands of employees in countries A, B, and from departments C, D.
I was working in a bank (one of the many) back in the late 00s and one morning the (open space) office was dead silent. It use to have 200+ people but that day it had 20+.
Apparently "Management" saw something coming (it was the 2008 crisis) and decided to cut costs asap, and the first to go out were the ~200 contractors (back then there was no 'remote' work, so everyone was in the office). I knew one of them, we grew up in the same neighborhood, and he was super angry because they asked them to simply hand over their laptops and walk out. 1 minute notice, and paid them in the end of the month for the rest of the month and that was that.
At _that_ moment I realized that shit doesn't just happens to others on the news, it happens to all of us, it's not an IF it will happen to you/me/anyone, it is a WHEN it will happen.
Brace yourselves, winter is coming.