Page layout is used to customize the content of record pages for your users. Different people can see different parts of the page. It can be used to control which fields are visible, editable, and required for the different users.
It allows the author to setup the following information:
By clicking '+ Add' button, the author can add a new page layout. After the author shares the layout to a user or organization, end-users will be able to access the page layout easily.