Layoffs are not a new thing. The 80ies were already seeing the combination of recurring layoffs at the same time as a thick book of open positions - for the same companies. Layoffs were frequent, openings were plentiful.
Resume processing software indeed was a problem from the start, at first leading to resumes stuffed with BS keywords.
I feel that what are (somewhat) recent are (1) the brazenness of the whole process, combined with (2) the time-intensive-ness of the interview process. All the way to different people applying and showing up for the job. That is new. Hundreds of responses for each and every job posting, that is recent. Just the lid on the coffin of a process that has been breaking for a while.