The more the better. Time for a career check. If you think that your company is going to be affected by cuts, take some time and really think about your next career move. If you're not happy doing what you're doing, now might be the time to make a switch. This isn't our parents' generation, where people worked for one company for 40 years and then died.
Job boards can be a big help.
But don't rely on them. I know a guy who gets up at 7 a.m., checks the job boards, then tells people that he is done looking for the day. It takes work to find work. You could always pray. If you belong to a synagogue, church, mosque, or other group, spread the word there.