These are not emotional decisions. The company is paying you for a reason. You are working for the company for a reason. If the reasons don’t hold good in either direction, it’s time to move on. This is not a ‘till death do us part’ kind of a situation.
If you are good at what you do, and are not valued at your company, then you need to contemplate things a bit. Interview outside, make sure that you are as good as you think. Maybe you got a bit rusty , get yourself sharp again. Then see if you get a better job, and check if you company would meet/counter that offer to keep you. You’ll know if they really value you. You may realize that it’s jot you, but the company may not have any work for you - either way you make a call.
Maybe you suspect that you are not as good as the talent pool. If you suspect this, get training, get a few interviews or even take a few tests to evaluate yourself. Remember there is no commitment to going for an interview. What’s the worst that could happen ? Either way get yourself in shape that you are an employable skilled resource.
If you suspect that you are behind in skills than the talent pool and you are being loyal to your company, well... why should the company pay for someone, who is admittedly loyal, but other companies won’t risk hiring ? Isn’t it better for your company to fire you or rif you and open up the position to hire a sharper resource.
Guys there is no virtue in getting complacent and calling yourself loyal. Get over it, make sure you are on top of your game, that’s the best you can do for yourself and only you are responsible for that .
Now a lay-off is a tough pill to swallow. You feel undervalued and slighted, or cast away. It’s a shock and you worry about your savings and bills. You worry about visas if you are on those. Panic does not help. Be pragmatic. Get cracking at your interview skills. Solve problems and practice your introduction spiel.
It’s easy to blame people and wallow in your misfortune, but realize that hanging out in these forums are not doing anything positive for your career. If you suspect that the future for your product is not great, then take a tough look at your choices. The best ones are not usually the easy ones.
Do what you think you need to do, but realize that business, weather, world events can all impact your employment and when it does, it’s up to you make sure you keep your skills sharp and relevant.