Business slowed, clients missed payments, people started watching f*d.com, the first round of layoffs came, the execs did a tour and promised all was ok, the second round of layoffs came. We spend a lot of time at Starbucks contemplating plan B.
One day I came in and the laptop wouldn't connect to the network. I stick my head in my friend's office, and say "My laptop won't connect, is there something I should know?" He gets that deer in the headlights look, rushes off to check with the management, and a meeting is convened where the third layoff happens, something I'm part of and he's not (Probable cause for me being out: I didn't play ball on a traveling assignment I didn't want, was OK with the outcome. My friend hung on to the bitter end, and we laugh about it now.) The hardest day was sending back the extra paycheck the company had accidentally sent.
I started looking for jobs, but I started getting calls from friends who heard I was available for a week here, a month there, a six-month thing, etc, etc. I wound up forming an LLC and staying self-employed until decided I needed a nice safe job just before the financial crisis.