I know many people who hate having to wait to find out about layoffs, but I'm not one of them. I was given time to prepare and I appreciate it. I've been working on my resume and networking like crazy for the past several days. If I'm affected, I'll be ready. I prefer it this way.
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OP. You have the right idea. I've been through this at other companies and it's all the same. Don't think that your job is safe. If they haven't told you that you're a HiPot by now you're not going to magically be one. If you don't know what a HiPot is or aren't sure then you're on the layoff radar screen. Start looking now. Update your resume and send it out. Almost every company has a web site were you can submit for an opening. It takes time and patience. Good luck to all.