No, your point is flawed and has no basis in reality. If many (read 10k-1000k order of magnitude depending on location size) skilled engineers are fired at the same time then things get really bad for engineers.
* All the companies than need any engineering based work done can take their pick of the best.
* But remember their normal recruitment channels are still open and feeding potential employees through. They may prefer to hire fresh talent rather than a 50 year old.
* And other engineering companies will be affected. If your aircraft company lays off 30% of its employees then it probably does so because it has less orders on its books. Therefore the smaller companies making parts for the aerospace industry have less orders and will be firing rather than hiring.
* Even worse large job losses tend to be correlated with a generalised or sector wide downturn. So car companies and ship companies and bridge companies may also be in a situation where there is less demand and be firing rather than hiring.
* The local economies of the places where the engineers were fired from will be affected. Skilled workers tend to support several service workers and when the skilled workers are laid off the service sectors are affected (you don't go out to a restaurant or get your house done up if you've just lost your job).
* If people move away from towns/cities due to lost work then the property prices tend to fall. A family with a mortgage may be (or feel that they are) better off holding onto their home and accepting much lower pay than accepting they have lost several $100,000 on the re-sale price of their home.