Know your value . Check your value against the measuring stick of profitability. You see, profitability is at the core of every decision to downsize. It's rare that a downsizing leads to a complete business failure. Companies don't just go out of business when they lay people off.
Cutbacks reduce cost, and that contributes to health.
Know the lay of the land. Make sure you understand where your division, your product, your project, your department and your job fit into the profitability scheme. While you probably won't be able to come up with exact numbers, it's important that you try to calculate whether your work is costing the company more than it's yielding. If you're in a questionable function, don't be a sitting duck. If you can explain how your work is profiting the company, you've got leverage.