Alisha - Layoffs in the wake of the COVID-19 pandemic are extremely unethical and unprofessional. Please consult your local trade union before announcing any form of restructuring. If you are aiming for mass layoffs, there might be local/national labor complaints against your organization - causing much negative publicity and loss of your brand value. Employees don't consider it a shame anymore to post complaints on Twitter and other social media platforms.
There is a plethora of literature published from premier business schools during February to June 2020 around how to effectively utilize human capital without layoffs and justify remuneration costs.
It is not a wise decision to cull headcount with myopic human resource management policies.
Research has proved that, in the longer run, such policies will prove to be counterproductive and dead costs will resurface in the form of manpower gaps in the near/far future.