elimination of the new position that was just created and I was hired 7 weeks ago. Is it legal?

My position is new; I have been interviewing for this position for 6 months; was offered the position and started my job end of August 2018. I left my old job at the same company to take this just created position. Now I learn that this position may be eliminated after being on the job for 7 weeks. the company is going through lay offs process currently. Is it legal to eliminate my job after 7 weeks? When they interviewed me , nothing was said about possible elimination. the company does go through hard times, and CEO sent and email last May talking about possible lay offs. However, I was hired in August. I assumed the value of my role was reviewed and green light was given to hire me. Could you please advise?