Facing redundancy: Navigating job insecurity and competition for survival

I've recently been put on an "at risk of redundancy" list at my company in Europe, which has around 500 employees. Management announced that they are considering eliminating approximately 300 positions, which is about 60% of the workforce. Unfortunately, my name is on the list of those at risk. To justify our positions, we were asked to prepare presentations detailing our responsibilities, achievements, and reasons why we should be retained. Following this, the company has set up individual informational sessions with the unemployment agency, even though they haven't finalized the redundancy decisions yet. They plan to lay off only 150 employees after the presentations, so it feels like a competition among us. I've been in my field for over a decade, but the job market here is extremely limited. Moving abroad would involve a lot of immigration paperwork, and remote positions are highly competitive. The uncertainty of the situation has been exhausting; I’ve been struggling to sleep and find it hard to concentrate on work. While I understand the need for companies to restructure, the way they are handling this feels particularly harsh. Asking employees to compete for their jobs while keeping them in the dark about their future is incredibly stressful. I’m feeling demotivated and overwhelmed by the whole process.

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