There's some hubbub over job cuts at LiveJournal that are not just a couple, but seem to be about half the US or at least San Francisco staff. ValleyWag has managed to misreport it as being (even) worse than it really is. While I do not expect LiveJournal to suddenly curl up and die, this is probably as good a time as any to point out a few things:
If you want to do a simple (but tedious if you've had an LJ for several years) backup, LJ has this Export Journal page. The tedious part is that it can only back up a single month at a time, so can get fiddly. If you want do backups or transfers another way, there are various scripts. There are also downloadable clients that can be used to download as well as upload.
Since Spring 2007, when LJ seemed to be utterly determined to screw itself up by committing acts of egregious idiocy and then blaming the actions on its customers, I have had another account Vakkotaur over at InsaneJournal. Lousy journal name, good service. IJ's owner has posted about the situation.
I have been simulcasting my journal to both IJ and LJ since January of last year. Much, but not all, of my LJ has been mirrored on IJ as well.
Orvan Ox also has his journal over on IJ. To see his posts on your LiveJournal friends list, you can add him as orvan_ox_ij. The downside is that those entries will not be preserved by LJ and so comments left on LJ will disappear with the old posts - comments left on the IJ version will not disappear. Without an IJ account, you can still leave comments by using OpenID which is supported by both IJ and LJ.