While for some companies - youth is preferred (gaming companies as an example), most are focused on experience. I had the same concern as you but have found my age is not a restrictor and I'm either your age or older.
I wouldn't wait for what could be your predicted layoff. While it may not happen, it's still a good idea to create your resume, and start to apply to roles that are a good match. Start now, as if you were laid off. I was recently laid off, and I honestly was not shocked and should have started my search sooner.
You should customize your resume for each role you apply to. Ensure you use the keywords in the job posting. If a cover letter is allowed, ensure it focuses on the value you believe you will bring to that company.
Be patient. Unlike 20 years ago... technology is used to sort resumes, it's easier to find and apply to jobs, many are remote so the talent pool is larger. I don't know your role, but if you can, and work on site today, focus on the jobs that require employees be on-site or hybrid. It will have a much smaller pool and will likely get you an interview.
I would select jobs that excite you and you believe you'll be passionate about. Put the effort into those applications (customizing). vs Sending out the same resume to multiple postings. Keep a list! Recruiters are refreshing postings that show they were "just added" but have been up for a month. Either use one of the job board platforms to track or just use your own excel sheet.
Good Luck
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