I'm curious if anyone has decided to forgo severance and pursue legal action instead.
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After more than three decades of service, I took the severance and left quietly. Chance of winning a lawsuit are slim to none. I knew of 2 people who were involved in a class action law suit. Still ongoing after MANY, MANY YEARS. One of them died in the meantime. Face it. HR policies are written with a legal army checking every word, comma and period. Try and find a loophole. Go ahead. I’ll wait.....
Even if someone has a valid case, it can drag out for a verylng time. Someone who wanted to file suit would need to be in a position of not ever needing the severance money. Otherwise you are faced with a case that could drag on for months or a year, and might end in the company's favor. Most people, even if cheated by the company, are in a position to take the severance.
As far as pursuing legal action for getting cut from the company, they can release just about anyone they want, unless you can prove something like discrimination or retaliation.
I very much doubt that there would be a case. When the VRIFs and IRIFs started years ago, I believe that severance was 2 weeks for every year of service capped at 50 weeks. That has gradually been reduced to where it is now. But to be sure, speak to an Employment attorney. If they will take on the case for part of the settlement, then you may have a case.