Well said FPL. As one who ended up driving a van during the early nineties (if you don't remember 'em, consider this year as your first really important lesson in aviation) but was lucky enough to stay employed through the 80s,this is a cycle.
Keep your head down, don't leave your current job in a fit of pique and burn bridges behind you. All companies are battening down the hatches to protect themselves from the gathering storm and they're doing it to try and protect you as well as the business.
If you're considering leaving you're current employer, ask yourself one question - who's seniority list do do want to join at the bottom right now?
FPL - it's worth looking at the undertaking industry too. They will always have customers, some on the pavement below Canary Wharf..