A company that is posting quarterly losses is probably not going to have the resources to give you a raise, said Michael Barr of The Chicago School of Professional Psychology.

Asking for one under those circumstances would show the bosses that you don't know much about business, he said.

However, he said if the organization is doing "fairly decently" and you can demonstrate why you deserve a raise, it doesn't hurt.

Don't use working extra hours as justification. He suggests making a business case, finding salary information for people with equivalent backgrounds doing similar jobs at similar companies to show you are underpaid.

Work smarter, not necessarily harder

Companies don't necessarily fire slackers first, said Barr. They are often looking to cut positions rather than people.

If you are feeling overworked, collaborate with your supervisor to make your duties more manageable. Perhaps there are things you are doing that are not adding value to the organization, he said.

Be strategic about taking on extra work.

"If you are going to work harder, do something that's going to have an impact on your career," he said.

Embrace change

Don't take change personally. Most companies are not downsizing, restructuring, or changing their business models to make your life miserable, said Podesta.

They are trying to survive and remain viable, which means you will have a job, she said. If your company isn't changing, it may be out of business in five years.

"This is not the time to complain about change," she said. "This is the time to say, 'Bring it on.'"

Remain positive

A bad attitude is one of the top reasons a manager lets someone go, said brand marketing expert Robin Fisher Roffer, author of "The Fearless Fish Out of Water: How to Succeed When You're the Only One Like You."

Pitch in, said Karsh. Don't complain loudly, spread rumors about layoffs, or contribute to office politics.

Believe in what you can do and what the company can do, said Roffer.

"When the recession is over, you're going to be seen as a positive force, someone who can be counted on to rise to the occasion," she said.