Hey we have downsized twice in the last year. This advice is critical for all technical workers now. I think most company are simply resizing, retuning, and refocusing themselves to prosper in today's market correction or maybe even recession. I think things are different for engineers now from previous economic downturns. Now, engineering and value producing functions such as sales are the ones that are retained.
Technical workers are relatively in good shape.
They are not however bullet proof from downsizing. The marketplace still needs and values current technical workers. Demand outstrips supply for the time being. I've spoken to a dozen or more engineers this last month. She worked the 70-hour weeks and now wants to give it a rest.