Exactly. The moment upper management utters the word 'layoff' in any context, or tries to reassure workers it's time to GTFO immediately.

Why would you GTFO because there’s a possibility you might be laid off? Why not wait and see if that actually happens and collect any severance?

1 - Layoffs mean either your workload is going up, or you're getting fired.

2 - Depending on size of company and location, mass layoffs mean a ton of people looking for jobs at the same time.

Better to get ahead of such things, in my experience.

Personally? Because I don't think the stress is worth it. I've been in this situation and find it unbearable.