Mythbusters tested an
extremely mild version of this event.
https://youtu.be/LEY3fN4N3D8
Built a "meat man" from plastic skeleton and pig meat, put into an old-style diving suit with a bell helmet, lowered to 300 feet, turned off pressure to the airline. As air left the suit interior, water pressure compressed the suit exterior. Inside the suit, the "body" was compressed up into the diving helmet.
35X greater depth + instant compression + we being 60% water anyway.