Our company had many rounds of job cuts, sometimes two rounds in a calendar year. Fallout from those usually impacts productivity of those who remain and need to step up and assume additional responsibility. I made it 37 years, finally laid off along with most of my highly-compensated coworkers when senior management cut 70% of the Research Laboratory staff. Getting laid off wasn't fun, but I was happy to walk away with a severance package. I talk occasionally with a few friends who are still there. Things are worse for them and all are building their nest eggs so they can retire and live on their pensions, savings, and investment.
My family always lived below our means. We followed the approach of financial writers like Dave Ramsey and Larry Burkett before him. We started by saving an emergency fund that would support us for 6 months. We saved for retirement. We generally went camping for a vacation. We managed to save enough to help get our two children through state universities.
The key to processing such a situation is to be thankful for what you have, work together as a family to control expenses, and find whatever joy you can in the work you do.
Amen, and be very grateful for what we have;