Are tech layoffs as bad as people say for experienced devs?

I'm a tech lead with 8 YOE, I lead 3 different teams.

It's salary increase time at my company. The last 2 rounds of increases have not been great, which I understand, the market hasn't been the best... This is across the whole company (not just my salary) as leadership has had to do some damage control, when there was an uproar due to low increases across the board.

The company I work for has opened up hiring again and the teams under me have grown too. So if I get another low increase, I'd like to negotiate.

I'm anticipating that the loose labour market will be cited as a reason for a sub-par increase. There's lots of information out there about the tech layoffs that's been taking place recently, but not much in terms of what types of employees are being laid off. For instance are seniors and juniors being laid off at the same rate?

If anyone has insights or resources I could use to educate myself, it would be greatly appreciated.