doing nothing but drag the rest of the industry down with them, etc, etc...
Sounds a lot like an industry I previously worked in. I survived 2 rounds of layoffs/outsourcing but finally management decided it was more profitable to move ops offshore and replace 80% of current staff with foreigners whose expectations and conditions were much less. Sh!t happens.. you learn to move on.
No matter how much of an asset you think you are to the company, just ask your boss and he or she will tell you that "nobody is irreplaceable" at any price, there is always someone more desperate who will do the same job for much less money. We live in a desperate world and things are going to get much worse before they get better.