I got laid off in India from a product company but company will never call it a layoff. Here is what they actually do usually instead of that
I have been through this exact thing very recently in fact. Most people who have been through it think it was just them, bad luck, wrong company, wrong time. It is not. It is the same playbook everywhere, especially with senior people nowadays.
They do not fire you directly but rather make many other pretexts for them to be legally safe. They put you on a PIP with targets nobody could hit in 30 days. Or they call you into a room with HR and slide a resignation letter across the table and explain, very calmly, what happens to your BGV if you do not sign. Or they just stop giving you work until you quit on your own and they never have to put anything in writing.
The relieving letter becomes a weapon. Your variable pay disappears before the formal process even starts. The notice period becomes 90 days of pointless tasks and daily performance monitoring until you break and leave early, which means you lose whatever was left.
Court is not a real option: if you try to fight it, labour courts take 5 to 7 years. The company's lawyers know this. The HR person in that room knows this. You are the only one in the room who does not know this going in.