The first time, in particular, depressed me for months. And it was never pleasant, never just something you shrug off. It would be nice if we could find a way to lessen this trauma. But even without that, there is real uncertainty for the laid-off employee, and probably lost time, and often the disruption of moving and breaking up relationships with neighbors, and so on. And beyond that, there is retraining.
Jobs disappear in one sector and are displaced into another, and the workforce has to follow.
I don't see an up side to any of this, except that the retraining keeps skills current. Unemployment insurance, retraining programs and similar aids come to mind. And employers should help employees keep their skills current, and government support or pressure may be necessary to make this happen. But this paragraph is my own view only, and I don't see society or government going in that direction. The rationale for not having government act is that only the individual faces the real pressure, and can find an efficient path to keeping employed.