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

My employer announced that the site will close and gave us written notice. Any experience at all would help. They offered a retention bonus for people who stay. Should I stay for the bonus?

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

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