Can a company lay off an employee for lack of work when there isn't?

[alldone]

I have worked as a superintendent and dedicated almost 12 years of my life to what I always thought was a great company. Sales of new homes have been very slow for a long time but I was working at a community that had slow but steady sales. It had been quite awhile since I had started another condo building and was getting concerned about my future. I have won many awards throughout my tenure and my record of achievement outstanding.There are meetings with the execs. every other week to determine what jobs can move forward to start. My next building to be built had been pushed out a number of times. At the last meeting it was announced that we would be able to start the next building on Sept.8. I called the trades to share the good news and went home to celebrate with my family. The next day I get to work and was laid off as well as my assistant. They claimed lack of work. How can this be? I do know that I was the highest paid at my position in the company. Can they do this? I'm 49 and think it's unfair. Help me understand please?