Have friends who graduated from WVU and on faculty there, so this is something I've been following. Psych has not been subject to position cuts, but they are impacted. Resources there are....already not abundant...and being further stripped away. Forget about buying out of teaching, etc.
There are lots of reasons not to go into academia, but I wouldn't let this deter you if you are otherwise committed. Psych is almost invariably one of the largest majors, which helps (drives tuition dollars). You'll notice it is (usually) smaller departments that get cut. We have strong potential for extramural funding so deans generally like us. We don't require the physical infrastructure of basic sciences so we're cheaper. My needs are very "expensive" for a psychologist, but I could still deck out a new lab from scratch VERY nicely for < 250k as long as I had scanner access elsewhere and didn't need any major remodeling done. Relative to a basic scientist who might need a few million dropped on lab equipment....that's nothing. You have far more options for hybrid positions where a portion of your salary is covered by some other entity. You have more flexibility in what department you work in than many fields (e.g., I personally know psychologists working in biostats, public health, anthropology, engineering, neuroscience, nursing and basically every department within medicine). Humanities is going to get eaten long before they come for us. It doesn't mean we aren't impacted, but I don't see psychology departments ceasing to exist anytime soon.
That said, I do think this impacts approach. I would be nervous taking a position at a low-tier regional largely-teaching-focused college right now unless I was geographically flexible or had another backup plan. I would do a deep dive on university financials before accepting a job. I quizzed the equivalent of the dean on our financial health before accepting my current role (bit easier since we are a state institution so much info is public). While it obviously needs to be done delicately, I actually think higher-ups view it positively when faculty (esp junior faculty) are aware of and thinking about financial issues. It demonstrates a recognition of the big picture, that they are pragmatic and (probably) more likely to be a team player. At least relative to the faculty whose department consistently runs in the red already, has rapidly declining enrollment, has absolutely no awareness of any of this and demands xyz immediately, etc.