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Take a breather. Allow yourself a few days to process this news and decompress. Then start getting your resume together and your LinkedIn updated. If you haven't been keeping a portfolio of your work, grab some visuals of your big projects or successful projects you were involved in. I'd also make sure you have contacts for anyone that can be a good reference. It's a scary position to be in. Hope you are not impacted but it helps to stay ready for anything and prepping now will still be good for whenever you leave the company. Sending support your way.
Just keep doing what you've always been doing and apply for other jobs... and if you haven't always been doing that well then here's your not so gentle reminder.
1. Take a breath and keep calm. You WILL figure out a way through it.
2. Start applying - don't overthink it. You don't need a perfect resume - just pull the trigger.
3. Shore up your safety net.
I guess it's sort of like when there's a hurricane coming, you hope for the best but plan for the worst. Start putting some serious thought into finding a new job (which might be advisable even if you're not included in the layoffs). And think about your spending and what moves you could make toward thriftiness. If you can put some money aside into a savings account, definitely do that. Again, plan for the worst.