They can and they have, some will do better, most wont. We've all heard this for about 20 years now that loyalty and career jobs cannot be counted on like the Leave it to Beaver days. I only say this as we all know these things, the reaper can come for you, but still no matter how prepared and understanding, when it's your number, it's still a surprise.
I recall the Nasa employees on 60 minutes several months ago, when they a large round of layoffs. I get both sides, but these people just assume a high paying job is always there, they've now earned it and in Nasa's case their children should be hired in and reap the rewards for evermore. Now a part of me loves that, but then reality of the world settles in and it does come across as a bit too comfortable and elitist in a way. They felt betrayed even on the tax payers dime.