Layoffs were regular when I worked at Intel, usually reoccurring every 2 years. Mind you they used doublespeak and called a layoff as "volunteer separation program" (i.e. you decide to go) or some other name/strategy.
Hehe, I managed to dodge the layoffs and worked there for 12 years (the last year was only because I was asked back for just that one more year, thanks to a good friend, you know who you are). But it was really time to go and find something else fresh and new, at another company. :-)