> Why do tech workers get so wrapped around the axle of layoffs when most people are in a chronic state of tech job hopping?
1) Because layoffs are a timeline not in your control.
Leaving a job under my timeline is very different than suddenly being out of a job on somebody else's timeline. On my timeline, I know what my financial situation is and have likely planned around it. Layoffs, on the other hand, can catch people at vulnerable points. Even if you don't get laid off, you will likely have hoarded cash and adjusted major purchases just in case you did.
2) Because most "tech" workers are NOT in a chronic state of job hopping.
Most people working "tech" are in boring businesses doing 8-to-4, have a mortgage, a spouse, and maybe a child or two. They have friends and support networks where they are. They are reasonable at their job, but nothing outstanding that would set them apart from the masses. Moving to another job in the same area is probably not an easy task--either the area has a single big employer or the scattered "tech" jobs are kind of rare. And even if the area has another job, your commute may change from reasonable to absurd. In the worst case, your spouse also gets laid off since tech companies are like sheep and will do layoffs simultaneously for "reasons". Now, you may have to completely leave the area to find a new job.
This all sucks for people who are just getting by day to day.
3) Unless you have really good personal networks right now, job hopping is really difficult.
Sure, senior people can just call up "so-and-so" and wind up with an interview tomorrow. Junior people, not so much.