Layoff notice, what does the 60 days mean? (update)

Our team was told about a closure date that is 8 weeks away. I worked as a machine operator before this. They offered a retention bonus for people who stay. Should I stay for the bonus?

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

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.