Yeppers, been there, done that. I worked for Kmart in their headquarters when it was in Detroit. They declared bankruptcy and laid off about 800 people within 3 months. I wasn't one of them, but my best friend at work was. The security guards just came up, gave her boxes, told her to pack her stuff and stood there and waiting until they escorted her to her car. Took about 15 minutes before she was gone. It was a shock to everyone in the department.
Then, a few months later, it was announced that another 300 clericals would get laid off. I wasn't one of them either, but it put all of us on notice that it was just a matter of time. Detroit hasn't been a hot-spot for clerical workers before, and already getting 1100 people dumped on the unemployment market made it really tough to even hunt for a job to go to when you still had one.
I survived the bankruptcy, but then the rumors started flying that Kmart was merging with Sears. The up-and-ups denied the merger for months, and then it was announced as final. Then the rumors started that Kmart would move to Chicago, into the Sears Tower and sell the oh-so-prime chunk o'change known as their Troy headquarters. They denied that too. Then my boss (a VP) opted for early retirement and told me, privately, that Kmart was going to let go our entire department and keep the Sears version of it so pretty much no one was going to be moving to Chicago.
It was sweet of him, he didn't have to do it--probably shouldn't've have done it from some standpoint, but it allowed me to review my options. I got laid off, sure enough, about 2 months after he retired (just after training his replacement in the basics) and two weeks later, they started the move to Chicago and laid off the remainder of the 1000 or so clericals in that office.
Emotionally, I was almost prepared for it. I mean, it's always sad to leave people you spend so much time with and geniunely like. It's hard not to have the routine anymore. And even a generous payment to buy your compliance (don't remember what it's really called, but that's what it is) doesn't really help you out when you're facing a very uncertain, unstable job market.
On the other hand, I had time to outline and dive into a new novel that I was suddenly free to write completely, all day, and finished--ready for submission--in 3-4 months. A new record for me. But once that was finished and the unemployment ran out a couple months later, the more-than-full-time job of finding a job just smothered creativity. Two years later, I finally ended up moving out of Michigan and am once again gainfully employed and writing again.
The only GOOD thing about getting laid off is it's the one thing you can put on the job ap that no one ever thinks could possibly be your fault. LOL!