Cutting on company costs is another reason that might put your job security at risk. Two people working in different department or even same department yet whatever the other does, could easily be done by the other and this is a very disturbing factor should it come to the management attention.
If you were in their shoes, to cut on the costs this is something you would take note of and take action no matter how difficult the decision may be. This leads to leaving one of the two employees jobless and it put so much pressure on the staff because there is no guarantee that you are to one of those who might be asked to leave.
My personal advice towards such a situation is to always move one step ahead of the company by watching your back should anything happen at any unknown time.
Have your savings set aside on standby with an idea of what to start investing in should things get tough. You might say that you are not a self employed type of person which is absolute nonsense. Everybody has a talent and with that you are entitled to employ and contribute to the economy.