I think this is really smart. I made a runbook for a previously-announced layoff including contacts I'd reach out to, companies I'm interested in, etc. I had a full checklist of activities to help me feel productive if I was laid off. Making that checklist was a really helpful exercise to help calm my mind while I was waiting to find out if I was laid off or not.

Thankfully I wasn't laid off this time, but I plan on keeping this list updated over time.