RE:
They say for figuring up a severance pay, to take your monthly pay and multiply it by 3 to 6 months. Basically enough to get you by until you can find another job. If your job is a higher paid position esp in the business part and by being laid off it would take you possibly a year to find a job that meet the similiar criteria of your current job, the rule of thumb is 6 to 12 months and I have even heard of people getting more. And yes if you are laid off from your job you can draw uneployment until you find another job and you will have to show that you are looking and applying to different job opening in your area.

Hope it is of help. Good Luck!