Layoff notice, what does the 60 days mean?, security officer here

I received a formal notice about a mass layoff at my workplace. I worked as a security officer before this. I do not know if I should start looking now or wait for severance news. Has anyone been through this?

Thanks for writing this out. I went through something close to it 3 months ago, and it settled down once I kept a simple log of every call and form.