I am fortunate that I found a job and left Medtronic. I was sad to be leaving so many great people. I feel bad for the people that are let go and I feel bad for the people that are left. Different situations for both, but for the people that are let go there are jobs out there. For the people that stay, my advice to you is get looking very soon because when one shoe drops the other follows at some point. Could be 1 month, could be 6 months. Get networking and get out. If the numbers are huge, you will hate your job soon and you will say we are overworked and I have to pick up all the work that was left from the layoffs and you will be expected to hit revenue numbers that were set. Cr-ppy situation for both parties.
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Yes, the severance was good - 60 days with pay + 2 weeks/year serviced.
Hopefully you were laid off and got severance. That's how it's working out for me. Laid off, new job within a week, now just enjoying a nice break before starting with WARN and Severance pay.
I was let go and found another job after a week. As OP suggested, keep your networking intact on a continual basis.