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

I received a formal notice about a mass layoff at my workplace. I would rather hear the honest version than the polite one. I do not know if I should start looking now or wait for severance news. What did the workforce office offer?

I stayed for the retention bonus and looked for work on the side. It cushioned the gap.

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