Not good news, Jeff. But it is good that you are still there. I guess I have to wonder about the ownership of the company...let's face it...when you lay off the workers but keep management...the company has nothing left to sell. No pretty widgets, no fancy services...zippo. Ah well...time to crank up the resume and vitae...time to do some closet marketing.
You might also think in terms of an exit strategy. If they do decide to let you go at some point...maybe offer them the opportunity to still use your services as a consultant for hire. You pick the price. I suggested that to my wife a number of years ago...she poopoo'd the idea until one day her ex-boss called and asked if she would work for them that way. She took my advice for $$ and was amazed that they would pay her that much until she realized they didn't have to pay anything else...no health care, no taxes, etc.. So same thought to you. They may still need your services, just not full time. Worth a shot. They can only say no...
Good luck and hang in there!