Years ago we had the possibility of being faced with the same thing. I like you was scared to death about how would we make it, with two young children, etc. I worried myself sick for several days and then it just kind of hit me. What would do? Find another job, move on, move away, what ever we had to, I knew we would make it. I began to look at the situation in a different light, more of like a challenge instead of a horrible possibility.
As it turned out he didn't get layed off, he is still there in fact. The other thing I learned through all of this and
many other things in life is that worry wastes time and energy. I understand and know it isn't easy but, you will get thru this okay. Good luck and I'll be praying for you both.