I would like to hear from professionals how do they cope up with situations like that ?

You brush it off, you move on.

Easier said than done, but that's what you gotta do.

This.

There are idiots out there. Some employ others.

Some employers use their employees and screw them over.

Sometimes work goes bad for reason out of your control.

Then you move on, get a new job, and forget the idiots.

it sucks, but people get fired all the time, just find another job you enjoy, make sure you learn something there to put on your CV, and make sure you re not immediately bankrupt when you get fired(ps, with professionals you meant professionals at getting fired, right ? i m not realy in the programming business)
oh, and talk with collegues a lot, they won't know everything what goes on in the company, but (usually) they ll be a bit more honest..

right now you just gotta find a job that pays your bills though)