It is never a great feeling to get on a ship and see masses of people scurrying for the lifeboats. And, it is particularly unsettling to find that the people who once believed that this is the right company for you, including the interviewer and your manager, do not feel that it is the right company for them.
On the one hand, this turnover could be a random occurrence and mean very little in terms of the quality of the company. Or, it could mean something quite ominous. The best step is for you to look around the company and try to figure out what is going on.
You should talk to your fellow employees and members of management regarding this matter, and contact people who have left, particularly your former manager and the individual who interviewed you. In order to make a truly informed decision, let some time pass, keep the communication lines open, read as much about the company as you can, and be very observant. It should not take long to determine if you should head for the lifeboats too.
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