You wouldn't, because you are equalised to air pressure. Similarly if you are equalised to water pressure, you don't squish. Whales are capable of collapsing their lungs (and thoracic cavity) to cope with extreme depths. Obviously this is a gradient, you (well not you I assume, or indeed me) can free dive to 200m plus. Just a lot of compression going on and it's not a fantastic idea. It's obviously not a great situation for the sinking thing, it's very, very dead. Just not also liquified.
I mean tbh just read up on it, I'm not a hydrostaticist.