Panic may only exist in a company that is already lying about its true situation. If managers were telling the truth about what is going on in a company, everyone would be Ok with new updates about its financial position.
Speak for yourself lol if my company leadership just delivers bad news and then fails to give me hope for my job tomorrow I’m dusting off my resume and starting to apply elsewhere. If they don’t believe things can be corrected why on earth would I?