Layoff notice, what does the 60 days mean? - any advice?

I received a formal notice about a mass layoff at my workplace. There are 11 people counting on me, so I am trying to be careful. They offered a retention bonus for people who stay. Has anyone been through this?

Start your search early. I wish I had begun the day of the notice.

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.