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I went through this last year due to layoffs for the 2nd time in my career and have coached a few folks since. Here's what I learned/my 2 cents:
1. Accept there's no guaranteed outcome. Unless you have some leverage (refusing to sign, it may not be enough) and relax. It's just a discussion, and you already have an offer.
2. Don't make it a 1 issue negotiation. There are lots of things you can negotiate (e.g., last official day, multiple payments, insurance, etc.). Search posts on Linkedin or articles on the web
2. Identify what areas are your priority and decide your minimum requirements for each
3. Reach out to someone you know in HR or your HR Rep to get clarity on which areas they're willing to negotiate. Share your priorities, but realize you don't have to sign immediately. Get the revised agreement in writing and have a lawyer look it over pro bono if you can (lots of cities have free employment lawyer services)
4. Remember, you can still get severance if you sign after the date they've stipulated. They're offering you severance because they feel there's a risk even if it's a small as them not wanting you to tell the press about layoffs.
This is all great advice. I would add that the people you are dealing with aren’t the deciders, they’re middle men. The nicer you are to them the more likely they are to ask up the ladder. And the second you get mad or threatening it’s over. Your sob story isn’t likely to work. Everyone’s got one. But if you need insurance because you have upcoming surgery or something, state that matter of factly and be willing to negotiate to get what you really want.
Things you might have forgotten: if you didn’t take any days off and the state doesn’t require payment for them, ask anyway. If you’ve exercised options they may buy them back. They’re often totally willing to let you keep your laptop and equipment, especially if it’s a few years old.
Another thing you can ask for is extended healthcare, also I have found out placement services to suck, if they offer that how about a trade for more money? Also ask for a referral.
Throughly read employee handbook. My end last was going to be June 1. But long story short, it was changed to July 1. There was a company policy that if you’re let go on or after July 1 then you qualify for the bonus (or a partial %). I was not aware and that one month made a big difference! Or if you have some flexibility then negotiating a later severance end date might trigger a higher amount (like if you work 3-5 years then you get paid 1 week for every year but 5-7 you get paid 2 weeks) and you’re right at the border of the 5 year mark.
Best of luck with all this. I was laid off about 2 years ago. During that time it was very emotional. Hurtful. Disappointing. Anger.
Be patient with yourself and your emotions. Fight for yourself. And know that time will heal this hurt. I can say now that I’m very happy that’s I’m no longer being there.
After 2 decades in tech and been part of multiple lay offs (sigh), be thankful you received any severance to begin with and try to move on. Think about it this way, you could not negotiate your employment status, so trying to negotiate your severance allotment may waste time and burn bridges.