The company has to give two months notice, so you will receive salary and benefits during that time. After the two months you then apply for UI. Your severance and vacation payout doesn't count against you for UI so don't declare it. This from a guy who survived 3 massive layoffs from Samsung, Motorola and Nokia... still working today for another mobile company. But there are far fewer wireless tech companies in San Diego these days. Most are based in Asia now.
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When does unemployment kick in? Do you have to wait until two months is up? assuming no new job by then.
2 months is the base. You'll get another 2 weeks for every year you work here. So you'll totally get 3 months salary for your severance package.