If you think you're at risk for being laid off, attempting to renegotiate your contract is probably not a good idea. I also don't think resigning makes any sense.
I would say your best bet is to cut expenses and start saving up. Cut out unnecessary entertainment expenses, cook at home more often, trade in your car for a used beater if you have an outstanding car note, etc. Take it from me, it's more painful but more rewarding to do this sort of thing before it becomes absolutely necessary.
