Director, I have laid off more than I want to remember over these past 10 years. Here is how the process works.
You will receive a meeting invite from either your Director or MD. Usually it's a "quick catch up" or in previous cases, a meeting that you planned on having that we "move up" to an earlier day and time. These meetings will be in the morning, up until around noon. When you receive the meeting invite, it will almost for certain have two people on it - from an HR perspective, there needs to be a witness (a wing-man or wing-woman). Sometimes, this is HR, sometimes this is the MD with your Director, sometimes this is your Director with another Director.
This will be a quick discussion where we will read through a script. It's emotionless. We will tell you your position has been eliminated and walk through the severance payout along with your benefits. Our wing-person is there to make sure there is a witness to anything being said that should/should not be said. We stick to the script so we do not say anything to get us sued. Sometimes people yell. Sometimes people are very quiet. Often times, people cry. We do not respond to any of these emotions.
You will hang up and have until the end of the day to say goodbye to people. I would recommend sending a few quick notes and then just signing off. It's painful and try to separate from us as fast as possible. Maybe we over-hired. Maybe I do not like you and am getting you out of my team. Maybe you cost too much. Maybe you are redundant. Maybe you are a lower performer (and maybe I rated you to make this conversation less difficult for me). The official line is that your position is redundant and we are eliminating the position. It's not you, it's the role. Of course. Our legal counsel has reviewed who is of certain races, ages, etc., so we are covered.
You will be paid for at least two months (perhaps an extra week), along with COBRA payments. You will not be able to login. You will be able to access Workday externally if you have it configured. If not, call your HR friends.
WARN will not appear, because of the 60 day "you're still an employee, we just don't want you around" process. It's how we get around you seeing WARN notices ahead of time. Sneaky, right? That's how we got to be a Director and if we are so fortunate, an MD eventually.
You will be sent an email directing you to login to one of our HR partners who will have you electronically or digitally sign the severance agreement. At the end of the 60 days, you will receive ALL of your unused vacation time + a lump sum. During the 60 days, you will be paid as normal and have all benefits, along with accruing vacation. You will not be paid your sick time.
If you have vested stock options or RSUs, these are yours. Unvested will expire unless they hit the vesting date in these 60 days. Your ESPP payouts will be returned to you as well. You get to keep your ESPP purchases.
I have done this process too many times. It is terrible ruining people's lives. I hope this time around, I am the one on the receiving end of the conversation. There are better places to be. Good luck to everyone. And what I mean is, hopefully you hit the severance lotto.