Layoff notice, what does the 60 days mean? - 13 weeks in

I received a formal notice about a mass layoff at my workplace. Any experience at all would help. Some colleagues are already leaving. Should I stay for the bonus?

Thanks for writing this out. I went through something close to it last year, and it settled down once I kept a simple log of every call and form.

Write down key dates and keep copies of the notice. Mine helped when a question came up later.