If you get laid off, you would regret that you should have prepared for it long before your company announced its cuts. You can only hope you leave with an impressive work history, great recommendations, and updated skills.
Here are some advice/tips you can do to keep yourself relevant on the job, whether you think you face a layoff or not.
*** Act as if your job is always in danger, even if you're still employed ***
Do your best to make yourself more valuable -- not just to your current employer, but also to any potential employers you'll need to win over in the future.
*** Heads down and work while you are in the office ***
Many people spend time in the office using computers for activities other than work. For example, online shopping, personal email, discussion forum chat, etc. These are the ways wasting your valuable time. Please keep these activities low!
*** Be visible ***
Perception is very important. You can be a productive, highly skilled employee, but if you frequently skip company-wide events or staff meetings, others may perceive you as a slacker. Make sure you attend functions where your presence will indicate commitment, arrive at meetings on time, and volunteer for tasks that will raise your profile in the larger organization.
*** Dress for success ***
Even if your work doesn't require that you wear a suit every day, make an effort to look well-groomed, up-to-date.
The bottom line is, even if you won't face with a layoff, acting as if one will happen can enhance your value as an employee anyway.