Used to be that when you got let go from your job it was either because you weren't up to par and were being replaced, or because your job was going away and the company was shrinking.
Now there's a new wrinkle: you have to re-apply for your job and either get hired for it or it goes to somebody else.
In other words, the job you're doing right now is going up for auction and its up to you to ante up the qualifications to keep doing it, or they'll give it to somebody else.
Which then raises the question of corporate loyalty - company to employee and employee to company.
I can tell ya now, I haven't sacrificed a single personal event because the company wanted me to work overtime. I knew full well the company would cut employees at the first inclination of trouble. There's just no reward for loyalty anymore.
But hey, I still got my job.