Do what Fantasma said:
1. Immediately start cutting out all unnecessary expenses
2. Save as much as you can and keep it in cash
3. Start sending out resumes and looking for a new job.
It is always easier to find a new job when you already have one. Don't wait to get laid off before you start looking.
I agree with HW's points. I'd add #4 as "Wife starts looking for a job ASAP." I would start cutting my budget now as well, do not wait until you lose your job. Save as much as is humanly possible and keep it liquid.
Once you land a new job (hopefully before you get laid off), you can then readjust your budget. But the others are correct, you have a much better chance at finding a job if you already have one.