How to protect your job when layoffs are looming

Distinguish yourself.

With the downward economy, it's no longer enough to simply do your job – even if you're doing your job extremely well. Now is the time to stand up and take on those high profile projects. This could mean volunteering for assignments no one else wants or devising solutions to meet key company challenges.

"The invisible guy is first to go," executive recruiter Stephen Viscusi told Money Magazine.

The bottom line: Tough times can give you an opportunity to take on more responsibility. Handle these responsibilities well and it can pay off later.

Be a moneymaker.

Even if it's not part of your job description, look for ways to bolster company revenue, either by boosting current revenue streams or generating new ones. This could be as simple as sharing client leads, devising follow-up projects or looking for new ways to cut company costs. (Be sure to put your ideas in a memo to higher-ups.)

The bottom line: Often the easiest jobs to cut in a downsizing are the ones that cost the company money rather than those that make money.

Cut the complaining.

No one likes a complainer, and lay-offs give managers the opportunity to get rid of people who make their lives miserable. So if you haven't exactly been a team player in the past, now is the time for an attitude adjustment.

You may also want to reflect on your choice of office buddies. If they happen to be Negative Nellies, you may be found guilty if only by association. No need to abandon these workmates entirely, just steer clear when the talk turns toxic. Better yet, make an effort to associate with the people the boss respects and offer to lend them a hand as needed. Who knows? You may also bask in the halo of their good reputation.