Hey,

this almost happened to me last year - by an inch.I handed in my notice, had found a better job, and two weeks later my whole department was axed.

10 out of 12 have a job now, didn't take long either. For some, it wasn't easy. For #12, it is a "special case" - of not facing up to your limitations. Someone went into early retirement.
But almost all of my former workmates are now in a better position that will take them further than the old job would have, so it was, in a way, a healthy kick in the butt.
I understand, however, that it can get tight until one does find a good fit, especially when the economy is not doing well.
But if you keep your head up high, research your options, there will be another door that opens.
(Poor me, I missed out on the severance package. But I'm glad I just got out before the axe fell, because it had taken me a looooong time to "get it right". Worth more than any package)