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All depends on if you want them to never be emailed again, or if you would like to simply keep them from receiving that specific email.
If the former, you should set up an operational program for subscription management with a trigger campaign that is triggered by Email Bounces or Email Bounces Soft and the flow changes the persons Email Invalid field to True. Similarly, you could mark Marketing Suspended to True or Unsubscribed to True.
If the latter, you could set up a trigger campaign in the specific program and similar to the previous option, have it be triggered by an Email Bounces or Bounces Soft and the flow changes Marketing Suspended to True, Waits 36 hours, and then changes Marketing Suspended to False.
As a side note, from what I've been told, Email Bounces is a trigger for hard bounces, while Email Bounces Soft is for soft bounces, so you may want to have different rules for each. I went the route of the first option where I set up an operational program, so I have my triggers set to Email Bounces or Email Bounces Soft minimum of 2 times in the last 30 days.
Thanks so much, Andy! That's a great idea and I'll definitely give it a try for our next webinar. I sure appreciate your quick and thorough response!