Thanks for sharing your experience, which appears fairly common in the Peoples Republic of California. I hope you are in good health and employed.
My health is fine. Two weeks after I got the layoff notice, I tracked down $3 million in new contracts. I took the work to a different manager. Not the clown who sent me a layoff notice after living the good life while I worked 240 hours per month at $250/hour. A good manager puts money away to cover slack time or tracks down new work so there isn't slack time.