There's an increasing body of anecdotal evidence that many companies are cutting back on staffing, although they're not going around telling the papers and, from the coverage we're seeing, the papers aren't really asking that much. There seem to be an awful lot of low-profile tens and fifteens behind those few high profile five hundreds.
What I have found amazing are the stories of people who have been told by text that they don't have jobs any more. An SMS the night before, telling them not to bother turning up at the office.
Sacked by text message! It doesn't seem to be the kind of thing you'd find in the 'Good HR Handbook' does it?