This is unfortunate. I hope you find a new place quickly - having the rug pulled out from under your feet does not seem to make for a pleasant experience. It's

This is unfortunate. I hope you find a new place quickly - having the rug pulled out from under your feet does not seem to make for a pleasant experience. It's an interesting look into a management team convincing itself of a better financial situation then what the actual situation was, and makes you wonder how far down the chain any indication of impending layoffs / tight financial situation traveled. I must imagine the CTO would know himself, but perhaps he was given explicit affirmation that financials would be alright for hires like this, until all of a sudden it wasn't?