I know I'm the third person to say this but you're not "useless"!
Losing a job is very stressful especially when you start wondering about putting food on the table and paying rent, but feeling useless will only make you feel worse. It's not that you're useless, but like you said, you're working for a company who's sole idea is to make a profit. They don't see you as "Madison" a person, instead you're only a "number". They want a bigger profit margin and one way to do it was reduce the amount of "numbers" working for them. Turning these "numbers" into "contractors" is one way to do it. Usually contractors have less benefits than employees which equals saving money.
Bottom line, don't take it personally like we've mentioned before and don't bring yourself down. Maddie, you've done Solidworks drawings, you've helped out in the mechanical threads, you HAVE abilities and skills, we've all seen it!
Think about what you have done and what you can do and go from there.