I just got laid off, what do I do first?

Counteroffer · Answers · severance Source: https://trycounteroffer.com/answers/just-got-laid-off-what-to-do

Short answer: Don't sign anything. Buy time to think clearly. The first 48 hours after a layoff are about preserving optionality, not making decisions. Specifically: confirm the layoff in writing, request the severance agreement and any related documents in writing, request the statutory review period if you're 40+, do not respond to verbal pressure to sign, and start documenting everything that happened in the conversation.

First 24 hours

The single most important action: do not sign anything. Not the severance agreement, not the release, not anything else HR puts in front of you.

The layoff conversation often happens with urgency. HR may suggest signing immediately, may push to "wrap this up today," or may imply the offer is contingent on quick acceptance. None of that is true under federal law for employees 40+, and even for younger employees, you have far more time than HR implies.

What to actually do in the first 24 hours:

Get the news in writing. Email HR confirming the layoff and asking for the separation date, the package terms, and any next steps in writing. If you got verbal commitments during the conversation, mention them in your email so they're documented.
Don't engage emotionally. The layoff conversation is designed to manage your reaction. Stay calm, ask procedural questions, and end the conversation when appropriate. Don't agree to anything beyond the basics.
Save everything. Forward important emails to a personal account before your access is cut off. Save any documents, performance reviews, or work product you might need later. Be careful about confidentiality obligations.
Talk to one trusted person, not many. Spouse, close friend, or mentor. Not the entire LinkedIn network. Not social media. Public posts can affect negotiation leverage.
Sleep on it. The first night feels worse than it actually is. Decisions feel different the next morning.

Within the first week

The first week is for gathering information and developing a strategy:

Read the severance agreement carefully. Every line. Note items that seem standard and items that seem unusual. Highlight anything you don't understand.
Compare to peer practice. Use Levels.fyi, Pave, employment law firm articles, or this site to benchmark your offer against market. See How much severance should I get?.
Identify your top 3 negotiable items. Don't try to negotiate every line. Focus on the highest dollar items (severance multiple, equity acceleration) and the highest risk items (broad releases, new non-competes).
Decide whether to use the full review period. If you're 40+, you have 21 or 45 days. Use most of it. Signing on day 3 communicates that you weren't going to push back.
Decide whether you need a lawyer. For most situations, a contract review service is sufficient. For situations involving discrimination claims, large equity packages, or active litigation, you need an employment attorney.

Documents to request immediately

In writing, request from HR:

Full severance agreement and any attached exhibits
Equity plan documents and your individual grant agreements
Confirmation of your vesting schedule and current vested vs unvested status
Any benefits documents (COBRA notices, 401k information, life insurance continuation)
Final paycheck details including PTO payout
For group layoffs (employees 40+): the OWBPA decisional unit disclosure
Outplacement service information if offered
Reference policy and designated reference contact
For executives: D&O insurance information and indemnification commitments

Having these documents in hand lets you analyze the full picture, not just the headline severance number.

What not to do

Common mistakes in the first 48 hours:

Signing the severance agreement on the spot. This forfeits all your leverage. Take the time the law gives you.
Posting publicly about the layoff. Reduces leverage, may violate confidentiality obligations, signals to future employers you're emotionally reactive.
Calling former colleagues to "share what happened." They'll be sympathetic, but conversations may get back to HR and shape the narrative against you.
Quitting the negotiation before starting. Many people accept the initial offer because they assume nothing is negotiable. Almost everything is.
Lawyering up too aggressively. Bringing in employment counsel can escalate. For most situations, a contract review service is sufficient as a first move.
Ignoring the agreement. Just because you're not signing immediately doesn't mean the review window doesn't expire. Track deadlines.

Building your negotiation position

While you have the review period, build your case:

Document your contributions. Specific projects, dollar impact, awards, performance reviews. Strengthens any argument about severance amount or reference language.
Identify peer comparisons. What did others in your role get? What's industry standard? Both internal and external comparisons matter.
List verbal commitments made during your employment. Were you promised refreshes that didn't happen? Equity grants that didn't get formalized? Promotions or compensation increases? These can be leverage even if not legally binding.
Note the layoff context. Was this part of a broader RIF? Were you specifically targeted? Are there age, performance, or other patterns that affect your position?
Plan your counter. Two or three specific asks anchored to peer data. See How to negotiate severance.

What to do next

If you want a delivered review of your specific severance situation, with peer benchmarks, identified negotiables, and a counter email ready to send HR, we deliver one in 24 hours for $199. See Severance Review.

Get your contract reviewed

If you want a delivered review of your specific document with cited authority and counter language, see https://trycounteroffer.com/severance.

Last updated: Sun May 31 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Counteroffer is a contract analysis service, not a law firm. This page is informational, not legal advice.