How is the hiring now?

I have been trying to switch jobs for a few months now. My DSA was a bit rusty so I've been practising more and more daily. Trying to get a grip on solving problems in a structured way. I feel like I have a bit more to do with my prep but I might jump all in anytime next month. I did apply a few roles, and so far I have not even heard back from companies yet. Not even "sorry, you're not a fit" mail. How is the hiring trend now? All I hear is layoffs are happening within companies whomever I talk to.

My firm recently laid off 20+ peeps due to a project closing. And I'm kinda thinking the right time is now since layoffs could still happen here at my org.

Please share your thoughts on your company's hiring situation? Any leads are appreciated!!