Having been in a company for many years, that every so often had these packages, I disagree.
Yes, of course it means layoffs are coming. This isn't a conspiracy. The whole point of these packages is "We want people to leave. The more people who take the package, the fewer the number that is laid off."
If the package is going to only a small percentage of the company, then yes, it's a sign they'll get rid of you. When it's offered to such a large number, then it's just a lottery to see who'll lose their jobs. Like all lotteries, the chances of you being impacted are low (e.g. 10% was the max in my case).
Well, it’s often a big payout though, and taking it can be a nice bit of cash if you can line up a new job quickly. But I’d be the first to admit that likelihood seems to have plummeted for everyone (except for the geniuses who develop the AI models themselves, who are in a ton of demand.)