Relax, Be cool and calm, and be positive, if the company you are working is firing your next sitting colleague. Just be cool and relaxed. Be detached. Do not get angry with company or do not have pity at your colleague. No need for having emotions in this issue. Use your brain than emotions.
Do not get fear as you may be fired. Just be cool. Birth and death are not your control. Many things are in divine control. So just relax. You do not know, you will join this company few years back. You are not going to work permanently here. Some day you also have to leave, the reason may be anything. But you must exit. As long as you are working here, have courage to say not, when you have to say. Do not work too hard or strain yourself. Work what you can. Keep your temper always cool. Never get tension and never get fear.
Your company is not the end of the world. World is a big market with lot of varieties. The colleague who is fired will be in a better position than the current. It is foolish to have the illusion that your colleague’s life is over. This is mind’s negative imagination. As long s/he confident, enthusiastic, and positive, s/he can find a niche in the job market. Just relax. Termination or retirement is just another event in life. See it simply. There is life after layoff.