This! In my personal experience, folks who were willing to pivot to other industries and move location, were easily able to find work after layoffs. Those that weren’t struggled. Engineering is a great degree for critical thinking and problem solving skills. Those skills can translate very broadly across multiple industries.
That’s why I think sometimes broader engineering degrees can be more versatile than niche ones. For example, chem E over nuclear, mech e over aero, etc… You can still work in nuclear or aero but can also pivot more easily if the job market changes.