For one, this is not an announcement of 20K layoffs. It's an announcement of planned reduction in headcount as of 2026. Also, it's global workforce, not US. Also, go look at the BLS JOLTS data. Job separations happen by the millions every month even when we see net job growth. Seeing headlines about job losses at a particular company are only news as it pertains to that company. It doesn't imply a national or global trend.

https://www.bls.gov/news.release/jolts.htm Nov 2023 saw 1.5M involuntary separations (ie layoffs) in a month that saw a net of 200K new jobs.