Microsoft Rumored To Lay Off Thousands Worldwide
This is the opposite of what I'm seeing in some cases - most of my experience is companies running so lean that they eventually run into problems (can't cut jobs, don't have enough people, etc.). I suspect that's not the same across all companies, however.
As for Microsoft running fat, I can see that actually.
Nearly 50,000 IT Jobs Lost In Past Year
I agree on the skills - but there's also one other thing.
Today's job search is a CONSTANT. No matter how happy, secure, and satisfied you are, I always recommend people send one evening a week sending out resumes to companies and job postings they really want. Don't do it for everything, just what looks neat. Just keep yourself out there.
I've been laid off twice in the last thirteen years, and the department at my last job got cut 25% a few months after I left with no warning. Its worth it to be careful.