My company recently annouced that there will be a mass layoff due to the downturn in the market. This is after several quaters of record profits. Just one single downturn in one quather, they decide layoff a large number of people who made them billions.
This doesn't affect me directly since the layoff is mostly at other departments, but we all know that colleages who we've known for years will be let go soon. We just don't know who yet. This situation creates a lot of stress and unrest at the office. Nobody understands why this layoff suddenly happens, especially after the company has just hired so many people recently. Some new colleages just started last week and they are worried if they made the right decision leaving their last jobs.
I feel very uneasy about this. It's possible that there will be another round of cut if this round isn't sufficient. I am wondering if I should start looking for a new position as well.
Those who have been in similar situation, how did you handle it? Any advice on how to prepare for the worst? I don't feel like the company cares about the employees at all.