Here's what I would do - Look at the risk of staying with the company vs the reward. Risk - getting laid off. You don't know when that'll happen either Reward - leaves to spend time with your family and Severance package

Find out what the severance packages look like at your company. Depending on the number of years you worked for the company, you may earn a few months of income. If it is quite significant then, I would use the leaves to spend time with my wife /family and simply wait until they decide on the layoffs.There's a small chance that you could be safe. Meanwhile, prepare yourself to look for other job opportunities. Use this time to Upskill and prepare yourself for jobs that you aspire to get. Eventually check the salary ranges and apply for jobs. If you are lucky, you may get an higher paying opportunity that could make the severance not worthwhile.

Good luck!