Wouldn’t it be great if leadership actually spelled out what to expect, including some of those “minor” details like severance terms?
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severance terms are likely fair, but under non disclosure. They will likely provide some continuation of benefits, and the services of an outboarding company to help those affected in their job search.
In the US:
If you are 40 and over, they'll give you some paperwork listing the position name and ages of others included in the layoff, and you'll have 21 days to sign the agreement. If you are under 40, I think they will want you to sign right away.