Unemployment is up to 6.7%! I know many individuals that have been laid off over the past year and it doesn’t lo0k like we are going to see a slow down anytime soon! Fortunately most that are laid off receive a severance along with all of their vacation pay whether you work for a private or public co. According to About.com a Typical salaried (non-union) severance benefit is two (2) weeks pay for each year of service — to a maximum of 26 weeks.
Typical executive severance benefit will be in the 6 to 12 months range.
For those that are just cut loose without a severance (rare but can happen), talk with your employer and hope that humanity wins out if not look into the State and Federal Laws regarding severance packages.
For more see Severance Packages.