richc, it sounds like your experience is companies losing a major contract or just stopping doing that type of work, so laying off whole departments or 50% of the business.
Id guess that a lot of folks work in smaller companies where redundancies may only be 10’s of people as the amount of work reduces slowly rather than 50% loss overnight. Certainly many friends i know that have been through it have been in that fashion, although not all.
Also, given the OP was about 1 person, I think the discussion is more likely to be biased in that way.