This is exactly what happened to my dad during the .com crash. He worked for Enron, worked in server maintenance. Waited around as everyone got laid off because they said they would keep him, he was the best but not the most senior. Push came to shove and with only 4 people left in the department the higher-ups had to cut one more or take less money. They decided to cut my dad. By then the industry in that city was packed with Enron refugees so my dad had nowhere to go. We lost everything. Seriously y’all, cut your losses it’s not worth it. Just find somewhere else that’s more stable.