"Henry Ford did the layoffs following the 1929 stock market crash."

Nope

In 1913 he had to hire 52 000 workers, for a workforce of 14 000 because turnover was so high. After the pay increase of 1914, turnover dropped to almost zero.

38 000 less employees  was a huge cost saving, as Ford himself said.

By slashing the wage bill, he was able to lower the price of the cars