What do you do in if you get fired? Does it come up in background checks for future jobs?

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Take severance and look for another job asap is what I would do

It won’t show on background check.. telling this from self experience

Negotiate for better severance and lawyer up if you feel discriminated or think something is fishy provided you have proofs

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No, of course it wouldn’t unless you were fired for something like stealing and were handed over to the cops.

Eligible for rehire = No.
No reason or anything given. Layoff would be a yes. HR doesn't disclose either on the verification call (someone correct me if I'm wrong).

It depends on the background check company but some do ask if the employee is eligible for rehire

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