This idiom or expression (which is not polite) means:

In trouble.
Under pressure.
In a messy situation that’s not easy to get out of.

A. Have you seen the test results?
B. Yes, I know, we’re deep sh-t!!

Also see:
In hot water.

This idiom or expression like phrase means:

In trouble.

A. Are you gonna tell your wife what happened?
B. Of course not!! If she finds out I’ll be dead meat!

This idiom or expression like phrase means:

In trouble.
In financial trouble.
Financially speaking, when you owe more (on a property) than the property is worth.

This idiom or expression means:

In trouble.
Under pressure.

Political scandals have landed several public figures in hot water.

Also see:
In deep sh-t. (Not a polite thing to say.)

This idiom or expression means:

In trouble, as in:
When someone says “If she finds out, my neck will be on the chopping block,” they mean something like “I’ll be in trouble.”

Other usage:
When you put someone on the chopping block, you’re making them the scapegoat, and putting the blame on them.
If a company is laying people off, and you are on the chopping block, it could mean that you are among those being considered for termination.

This idiom or expression means:

People will get in trouble.
Employees will lose their job.
Players will get cut from the team. Etc.

Examples:
If the team keeps losing, heads will roll.
If we don’t get a new contract, heads will roll.