Received a job offer letter (soft copy) from Big4. Can they rescind/cancel the job offer because of recession/Coronavirus

Hey guys,

I received a soft copy of a job offer letter (agreement) last month from a big4 player in the Middle East for an entry level position. I am worried now since the recession is upon us due to the coronavirus, can they cancel/rescind the job offer? Has it ever happened to anyone before?

Thank you.

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