I was at my org for roughly 9 months, I came in as part of a large class of new hires across the entire org.
The last 4 months we were in crunch mode trying to land a big client that leadership continued saying would be a game changer for us. My eyebrow was already raised, because if one company is that much of a game changer, what happens if we don't get that client?
Sure enough, as I was texting with a friend who was spared, he let me know as soon as the last person left the office that day from layoffs, company had the weekly all-hands and announced sure enough, they didn't get the client.
Given that this is the status quo, employees should adopt the same attitude. When working for an ethical employer, I'll work 48h/day if the situation requires it, but for everyone else, I'll bill them for the "quick question over the phone" outside of my agreed upon working hours; and I'll quit when someone else makes a good offer. Once a (spectacularly unethical) employer tried to pull the "think about the others in your team" stunt only to be amazed when I found them better jobs within a week and everyone else quit, too. I cannot say he learned from that experience, but I equally cannot say I regret my decision.