“these highly skilled workers will quickly find another job”
Highly skilled at what? The same skills that other companies are laying off? Yes at least in Kalifornia they can land $20 burger flipping jobs.
If you are a programmer working at a tech company, you may have to take a job at a non-tech company, at a lower salary. From a hot new application at Google to data analytics at Walmart, well, it’s a job.