I mean act in the sense of updating our CV’s and start looking for new jobs. If the writing on the wall wasn’t clear before, it sure as hell is clear now.
The way I see it there are two scenarios, with both of them not being favorable towards the employees. If the company survives in some form it will be a long and painful process with lots of cuts that will affect all of us. She second option is the company is going down, and we all know what that means. The only positive thing that whichever of those processes takes place, it won’t happen overnight, which gives us time to start preparing for leaving and actively start looking for a new job.