This sounds a lot like a normal recurring conversation and it's no surprise at all. But I can't imagine being under the pressure of it especially when you're in the jenga tower of it all.

I've no doubt many companies are behaving as if all is well but have ideas in the back of their minds to downsize or outsource if a time comes where self-preservation becomes an issue.

And so to the quandary you find yourself in.
Do you tell your colleagues what was said during a drunken conversation ?

Personally I'd probably say something.
You can't affect the plan (if it even is a plan) but those you tell then have the opportunity to consider their own position and can act (or not) accordingly.

That would be perhaps the biggest drawback of having a good paying job. Constant worry about being outsourced or downsized.

Companies are not loyal to their workers. Everyone from the CEO all the way down to the fresh immigrants who clean the restrooms is expendable.

I do not know why anyone would be devoted to the place they work. The only group that companies are concerned with are the share holders.

start looking elsewhere!!

That sucks, but sadly, it’s a fact of life when you work for someone else.