Here, labor unions are quite widespread, and very effective at negotiating reasonably but firmly. As a result, I can depend on 3 months severance _guaranteed under law_ after 6 months at a job. (After 3 years, it goes up to 4 months, and then from there up to a max of 6 months.)
It puts the responsibility for risk of instability, errors in planning hiring / capacity, etc. firmly where it belongs: with the employer.
(And no, the economic sky is not falling here as a result. Quite the opposite.)