I can understand your company's perspective, they need to survive and probably encountered unexpected difficulties. I hope that at least they gave these candidates some amount of money (at least one month's salary).

If I were you, I would indeed start exploring other options on a small scale. Don't actively interview, but talk to friends, make a list of workplaces that would be happy to have you, so that on the day of reckoning, you will be prepared for any scenario.