Call me stupid, but like a horse that will run back into a burning barn, I've come back to Cisco multiple times.
Once you are notified, you are no longer responsible for performing any tasks. As @oyz+1k5aplWw said, you may want to be willing to spend a little time doing a graceful handoff to anyone who's remaining if any, but beyond that, your "job" is to look for the next job, be it internal or otherwise.
The first time, I was on a PIP before Cisco started doing frequent LR's. There'd only been 2 layoff's a Cisco before I joined, and PIP's were the way that Cisco managed to reduce its head count by 5% every year to let go of the bottom 5%. If you got crosswise with a manager or director, like I did, you got put into the bottom 5% and then managed out via a PIP where your "goals" got progressively harder and more unreasonable until they could fire you. Then Cisco announced its first big Early Retirement followed by a "workforce reduction" or WFR. I was currently on a PIP and when the WFR was announced, suddenly my "goals" became more and more like busy work and less and less challenging. That was my "sign" that I was going to be let go. When I got my 1:1 invite, he read the script and told me to go home for the rest of the day. He said I was free to keep my laptop & use the Internet, printers, fax machines, etc. as much as I needed, but asked that I use a different building than ours and to clean out my desk that night after everyone had left. He didn't realize that I'd come in and cleaned out my desk within the hour of receiving his 1:1 request. He also told me that all of my accesses for my job role were disabled. I basically had email and Jabber and that was it. I didn't do diddly. I didn't bother to document anything, mainly because I'd already documented my stuff months/yrs ago. I didn't have anything to hand off, again, mainly because I'd been doing busy work for the past 3 months after the announcement was made in Apr and I was notified in Aug.
The second time, it was the first time that Cisco made the announcement during the year-end earnings call and managers sent out the 1:1 invites within the hour after the earnings call ending. Again, I cleaned out my desk that night, and after the 1:1 call, the manager had someone on my team take me out to lunch on his corporate card. We spent an hour identifying accounts & mailers that I owned that needed to be transferred, what those accounts' passwords were (or where they were documented) and what needed to be updated when the passwords were changed, where my documentation was on the wiki, and we enjoyed a big a$$ lunch. After that, I did nothing until I was terminated. It was a great team, and not toxic like the first team had become, so I'd told a few people that they could reach out to me w/ questions but none of them did. I know they appreciated it, but they were able to use the documentation I'd left behind to handle it.