I just found out I will be laid off

[Colonel Flagg]

What kind of severance package are you getting? Typically it's 1 week for every year of service. Cobra benefits are generally standard fare (at least that's the way it was when I was laid off) so no big whoop there. Plus, I'd think you're entitled to unemployment regardless, since you will be laid off. As for getting royally screwed, Geggy, only you can answer that one:

1. Company is growing
2. Branch is closing
3. You're not being offered another job

Draw your own conclusions. At least, I'd ask again to see a copy of that contract.