Impact on productivity depend on team and company. Unless those laid off did nothing all day, there will be some impact. Good companies avoid frequent layoffs. it hurts the culture, hurts the morale, hurts the people laid off and hurts the people remaining they know some day after years of loyal service they will be given a box to pack and shown the door. Good ones will leave company is stuck with lower quality the cycle starts again. Builds bad culture.
I felt this was a truthful post by @XZOMPxt-4noy