As a boss, I know that I can expect a lot from my employees. I can only control to a point how much work I need done by them, and also how much I can pay. HOWEVER, I always show my appreciation. Why? Because I have really great people working for me. If your current, now former boss couldn't treat people with respect, then it's no one's fault but his own that people leave. You stayed a lot longer than other people, proving that you were a very loyal employee...something to be commended. One thing to always remember: loyalty must have it's limits. Unlimited loyalty is called blind devotion, and is something to avoid. Loyalty is both earned and finite.
If it were me, I'd tell her. I'd thank her for the opportunity, and let the chips fall where they may. But that's me. I have extra $$ stashed just in case, and you don't. I'd start saving now if the threat of being fired is a real one.
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