I'd be curious to poll our readers and get a feel of exactly how many of you legitimately fear losing their job. Judging from my own experience, I'd wager that Europeans are slightly less worried than their American counterparts. Not having worked in Asia, I'm not sure what the climate there is like and how you fare versus N. America and Europe.
But wherever you live, the game remains the same and it's important to keep a level head during these trying times.
I have a number of friends across America and Europe that have already lost their jobs due to the "crisis". I'm not sure if that word is used extensively in the Americas or Asia, but it certainly is in Europe. When the bad news comes, it's important to keep your head on your shoulders and not act in a reactionary manner. Of course, this is easier said than done, but it's worth repeating that keeping your cool is one of the best ways to react.
Once you get the bad news, there's no easy "what next" answer for you or your family. The fact that your company wants you and others out isn't indicative of your worth as a person. This may sound silly to some of you, but I'm sure that many who are recently unemployed have started to reevaluate their own self worth.
Your first professional thoughts should be towards all available options; perhaps you can negotiate some sort of monetary relief package for leaving. Be sure to inundate HR and Legal with questions surrounding your departure; they're there to help you take the next steps, including questions about unemployment.
Just remember, as unpleasant as it may be, most of us go through this several times in a lifetime nowadays. Things will get better, just not with your current company.