With respect to US employees, if the ax does drop hard, and it appears that many sacked employees are over age 40, those employees over 40 have specific rights under the OWBPA section of the ADEA. If you fall under that category, do a Google search and make sure you understand your rights before you sign any severance agreement. You have 21 days if you are laid off individually or 45 days for group layoffs (which this would likely be considered) to review and either accept or reject the offer. For group layoffs, you have the right to know certain statistics such why you were considered as part of the eligible group, plus the ages and job roles of others included in the group. Once you sign, you waive your rights to certain things, such as suing for age discrimination or going to work for a competitor (for example, Bloomberg) within one year of termination. Read carefully and have a lawyer review it if you're unclear about anything.
Posted originally by @VsUINzB-3xzp on &refinitiv board here, thought more people should read it