Job Security: Unknown

Earlier this week, we received an email from corporate letting us know that due to the global economic crisis, the company would be taking some drastic measures. They're freezing hiring through at least the first half of 2009, and only the lowliest underpaid staff will be given a raise this year (this includes me, of course). Although they claim layoffs aren't imminent, I can't help but be worried that I'm going to lose my job. There have been massive layoffs at other publishing companies all week, and those laid off usually fall under the editorial umbrella (like my job). This seems ridiculous to me, since editorial is essential in getting books made. I don't know how the company can operate with fewer people and still make quality products. We're already getting by with fewer people than we probably need.

My division of the company is very profitable, even now, so I probably shouldn't be as worried as I am. But I can't help it; I'm a worrier by nature, and I have no idea what I would do if I did get laid off. Publishing as an industry is shrinking, and with a degree in communications media, my opportunities for employment are rapidly disappearing. What do you do when your degree becomes obsolete?