Severance is 12 weeks for Managers, 8 weeks for Associates and some "critical" roles will get 16 weeks max. Sales people get 2 weeks. ALL only carry you for medical for 2 weeks though you can do COBRA and you will get whatever little PTO you accumulated in 1Q. If enough people VRIF, it may cut down on the amount IRIF'd. Get your resumes ready and start applying. Don't hold out hoping for severance. It's no longer enticing enough to be the last one holding down the fort for 8-12 weeks pay. Better to start looking while still employed.
Reposting from @wn+1jh35jm2s for info.