There are fewer projects in my company recently. I am not so busy as before. Last friday I have some spare time. So I was helping my colleague do his projects. My boss's boss, the VP, saw me and asked me "How are you doing?". I was very stupid. I said "I don't have much to do today, so I am helping my colleague". Then he asked:"What do you do usually?". I said I just finished one projects and was starting another one. Then he left immediatelly and looks unhappy. I heard that he is worried that our company has not gotten many projects recently.
After going home, I worried a lot. I am afraid the VP will fire me immdietally or whenever he need because "I don't have much to do". Although my boss know that I work very efficient and perform well, the VP is the powerful people in my group. My boss has to ask him everything.
So what can I do now? Can I do anything to save this situation? Do I need go to talk to VP to explain, or directly start job search for next one?