Recession strikes!!!

Today for the first time I met a victim of present recession.
I have been hearing about the pink slips being given, lay offs from big companies and all such news since a long time. Thank fully it hasn't happened with me yet. And till date I was fortunate not to face any face carrying any such news.
In my present campus, I found two companies closing their offices. That was just giving a hint how hard this recession is hitting.
And today I met a guy who I recently started talking to.
A guy from the neighboring office.
He some times approach me for small help.
Today again he approached me. I was expecting to hear some new silly problem he is facing.
On the contrary, he just cam to tell me that tomorrow is his last day in the company.
He is being on compulsory leave for next 3 months. He has been advised to search for a new job in the mean time. By chance if a project comes to the company, then he might be able to rejoin his duties. Other wise after 3 months he will be relieved from the company.
And he is not a fresher or a trained who recently joined. He holds a senior position in the company.
The company required to remove few senior as well as some junior employees. And unfortunately it was his number.
Life is again uncertain.
With present situation, he hadly see any chance of getting other job (at least so easily)
But he looked cool.
Seems he had prepared for it long back.
He might be having his own new ideas to work out.
DO not know whats running in his mind and what will be his future.
But this has made me cautious about the present situation.
I just hope I do not meet any more people landing into such a situation including myself.