Outsourced to an India-based IT consulting company; then told I would be severed.

Hello, I was employed for 3 years at a global IT company. Last May, company went through a heavy US layoff (3 months ago) all in one day. I was not affected at that time. Two weeks after that, I was told by my manager we've had organizational changes, and the company was shifting me (and as it turned out others) as part of an outsourcing deal to an IT Consulting company out of India. I would receive an offer letter via Fed Ex the next morning, have two days to accept, and if I didn't, my actions would be considered a resignation. I accepted and was told I would still be doing the exact same work as before, supporting the exact same people, reporting to the same manager, etc - nothing was changing except I would be an employee of this other company consulting back to this account. This same scenario happened to two other people on my team out of a team of 5 total; 2 employees remained as employees. No understanding as to the reasoning for that decision, why the others were not included. Fast forward 3 months to today, and my new employer tells me the client company, or more specifically, the IT organization within it, "re-negotiated their contract" or master services agreement and no longer requires my services, but there is an opportunity for another group to extend and be billed for my services. If not by a certain date, I would be terminated and offered a severance package. Additionally, I noticed within my own employee information in the new company there is an original master service agreement end date of 9/2019. This was found in the company's system, with my employee profile. Can a company who has entered into a signed master services agreement until 2019 suddenly decide, oh we don't want that now, we want to revise what we originally agreed to and eliminate certain services, aka we no longer want to pay for these people, 3 months in? Thx