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You should put yourself first before a company.
If you are concerned that you might be one that will be laid off, be proactive and start looking for a new role ASAP
You don’t owe anyone anything. But wouldn’t you get a package for being laid off? If so, let it happen and you have a longer tenure.
Start applying. You don't owe them any loyalty. If you can find something, great. If not, follow manager's advice and take whatever you're offered if indeed you do get laid off.
I wouldn’t keep a job at all if I left every time there was a rumor of layoffs. Look for the signs and then decide. Budgets are being reduced, projects are on hold indefinitely, for example.
Sorry to hear that. Definitely not just a rumor, and I’d take the time to figure out how to deal in the worst-case scenario. The stress of sticking around over the next couple of years would be a lot.
Unless you are not performing well, companies generally don’t look to cut new hires first. The exception is if they have lost business/over hired and no longer need as many people. If you are busy and doing well, I would not be super concerned, but it’s never a bad idea to start planning for known layoffs. Sometimes these things are not done with much thought and even people who add value get cut, so be prepared.
You're worried you'd be the first one to go but also think you owe something to the company? How does that work? Sounds like you need to take some stock of your worth and build confidence. They hired you to do a job. Do you see that as a favour? You do the job, they pay you. At that point, there is nothing left to owe.
I would...you need to look after yourself.
You can bet that they are going to be covering them...not you.
Let them lay you off, collect unemployment.