This is in no way unprecedented, and should be a lesson to everyone whose just going into their first downturn that the truth of the matter is
1.) you’re a widget, nothing more and
2.) you’re owed nothing, there are no certainties

Those who’ve been in this industry long enough, or those who have been smart enough to learn about it should in no way be surprised. Hopefully everyone hired in the last few years has been living below their means and preparing for winter. Every downturn is always preceded by some event that no one saw coming or could have predicted. It always starts slow then blows up fast. The good news is we have a road map for this particular one, albeit it’s shaping up to be far worse this time. Oil is also going down and a global slowdown in everything is going to put more downward pressure on it. It’s also 90% hype/fear from the media and as the fear mongering drags on, real science and data comes out, people will get wise to it and get burned out.