Before the year ends, I will be jobless

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It was with some pride that I announced to my mylot friends here that I got a job a few months back. The job is great, my co-workers are great, so is the schedule. So it was with shock that I learned yesterday that come December our department would cease to exist because the client did not renew their contract with us. This mean a hundred of displaced employees. I was crying a lot when I got home because in my department almost everyone knew each other, even the managers. Our company has promised to try to find vacancies for us within the company. That may be good news but there is a catch to it. It means that a lot of our benefits will be cut because of that transfer because the benefits that we are experiencing now was only for our department. I had to cry because I cannot imagine the heartbreak of my co-workers who have been working in the department for five years. They were the ones who started with the department and has seen it its glory days and bad days and stuck through it. They were given offers with other companies but stayed because of the people that they were working with. And now this. I can only hope and pray something good comes out of this. I just feel betrayed, as with everyone in our company that we were betrayed because the management kept saying that the company was stable. Now, we have ceased to become people to that company. We are only a faceless employee number they can afford to send out on Christmas without a job. I live in the Philippines. We don't have unemployment benefits like in the US. So I am again out looking for a job as early as now.