Recession is real but only for those who don't keep himself or herself updated with the demanded technology.
Also in video I have not covered that when you hear that a company has layed off x number of employees then make sure you know why they are laying off. Maximum cases are, that company is not performing or not generating profit.
If you loose your job then don't worry, keep yourself updated with the latest and demanded technology. You will quickly get new company with really good hike.
Happy Coding !!