The reality of the situation is that lay-offs in the industry are happening and will probably continue to happen as the entire economy continues to roil around in what Times financial columnist, Floyd Norris, is calling a "united panic."

As anyone who played junior-varsity basketball knows, sometimes a good defense is the best offense. If your company is talking about "financial troubles," a cut back in freelancers or sending emails around about "tough choices" due to the economic crunch, it might be a good idea to keep your eye out.

So, how do you know if you're about to get the axe? We've taken a hint from the blog, Business Sheet, and provided you with a full accounting of the warning signs:

1. Your boss used to be friendly, ask how you are, make a comment on your new sneakers. Now she avoids you.

2. Your emails asking strategic questions are either ignored, or kicked down to the boss' assistant to answer.

3. Brainstorm sessions for new pitches seem to be happening all around you, but you aren't invited.

4. All of the sudden - there's an in-crowd. A large group of people seem to know a lot more about what's going on (promotions, wins, losses, pitches, clients coming to the office, etc.), than you and some others.

5. You walk by a meeting in the conference room that you would have normally attended, as you head out to lunch.

7. Your boss gives you production-oriented tasks rather than the strategic projects you're used to.

8. Or rather, he gives you impossible tasks. Sneaky bastard.

9. Has your mentor taken off for other shores due to "other opportunities?" Guess who's next? His crew of loyal employees.

10. Do you work in a department that is bloated? In good times, shop's beef up on employees, but if you can look around and see that their are too many bodies in say, the production force, for the amount of work coming in... watchyaback.

Good luck and godspeed. For reals.