Certainly you can expect yourself and your peers to be fired. I don't think laws matter - Idera has reportedly fired entire teams in the past in countries with similar laws. I recall hearing of two times that has supposedly happened. In those cases, the employees did not band together. Perhaps that's the advice: do so. Find a collective lawyer. Advertise and promote the company's activities towards you; make their actions publicly clear. HN here is a good place. Do everything you can.
This law has been modified and partially canceled in 2014-2015, but people that has been hired before that date still benefits of this law.
EDIT: Look at third page (numbered 70), second column half way, to get a better explanation. https://preserve.lehigh.edu/cgi/viewcontent.cgi?referer=http...