No, but I have been an employee in a business that had layoffs, then had reduced capacity, and had to scramble to hire new employees.
You can't be too reactive with talent. If you hired 10 people, you should be figuring out how to make that talent pool as happy and productive as possible, not firing them out of fear at the earliest opportunity.
"Replace" is very different from "Enhance" or "Augment." There are certainly roles that could be 100% replaced, but I think they'll be the exception, not the rule. Guess we'll find out!