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Initial reaction -he/company's in the shit financially and cutting you makes the books look instantly better.
My company is going through that right now (making finances look better artificially ...for prospective buyers in our case, regardless of effects on operations). December, they stopped giving hours to any sub-part-timers, week before Christmas they were all informed they had "involuntarily resigned". As people jump ship, they are not replaced, regardless of how essential they are to the team.......
Head up, keep treading water, something useful to grab will float by soon, and even if it's just a large turd, it can help you reach something else.
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The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart
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