We all agree the way this mess was handled was the ABSOLUTE WORST. Ignoring that fact, you need to look at the timing because it is putting you at a significant disadvantage. If the layoffs happen end of October (IF they happen then...) that puts anyone affected in the worst possible time of year to be job hunting.
Nov-Dec is typically when hiring slows to a snails pace. EOY budgets, people taking time off, holidays, etc. Anyone who is waiting until they are axed to start applying is already at a serious disadvantage. Talk to anyone job hunting, it is brutal out there and will only get worse.
You need to start sending out your resume ASAP. If you are hoping you can just apply in January, then you'll be hoping with a lot of other people as well. IF you are holding onto the fact you've been "loyal" to the company and they'll be loyal to you and you'll stay? You need to wake up.
update that linkedin, edit your resume and start looking today. whatever BS task you need to do for work can wait