Has anyone ever been in this situation?

Just the other day rumors started flying about temporary layoffs because of the Japan crisis. I have worked for this plant twice already. The last time the mention of temporary lay offs came up it turned in to full blown layoff. I was lucky and got my job offered back to me after three months because the guy who got stuck on my shift quit. Now the rumors are flying again...and since I got laid off I have lost all of my seniority and I'm back on the chopping block again. In an odd twist somebody else called and offered me a job that I applied for over two years ago. Any ideals on where to go from here?