It is important to note that there have been catches in the way that severance is/has been handled for associates going through the DM layoffs:
Do not sign anything without reading it first. If you do, you may forgo severance. Some managers have been telling associates otherwise. Confirm with the wire first and foremost.
The termination will happen on January 29th, the severance paperwork is supposed to be mailed to you. Your Management has no input in this. If you have signed new role paperwork, you may have forgone the severance option. If this is the case, please seek legal council if you did so under duress or via misinformation to enquire about your state's protections to such actions.
Severance is determined by years worked, not weeks prior to termination. Some management has taken to scare tactics to ensure staffing is not cut further by the Pandemic. There has been widespread misinformation about the severance itself. The only conditions for your severance is that you must have been in role when the October date rolled by and be employed without role still by January 29th (quitting or being fired negate this option in many cases). If you have been fired, seek unemployment and potentially legal council. Depending on your state, some protections may exist to prevent your employer from firing you to deny severance.
All DMs who were not selected or turned down the Team Lead role should have this option. The exact severance information at this time is not widely known, however various rumors put it at either 2 weeks or 1 week worth of pay for every year worked. This cannot be confirmed with 100% accuracy as severance packages are not set in stone until offered.
A severance package is not mandatory in many locations. Walmart chooses to do this, thus may change the terms up to the point they offer it. This is not to undercut the value of it, but be aware of the terms of your severance package. Some packages are lump-sum payments, this is in many cases the best option. If your severance is not lump-sum, be aware that acquiring employment elsewhere may deny future payments from that severance. This is why knowing the terms of the severance contract are crucial.
There is potential to collect unemployment after severance payments have ended. Be aware of what this means in your state. Many times you cannot collect both at the same time. Due to the nature of the current Pandemic, this may give you the funds you need to survive and options should employment be problematic.
Take care of yourself everyone.