Plant closing and notice period questions (Knoxville)

My employer announced that the site will close and gave us written notice. 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. Has anyone been through this?

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

The workforce board ran a rapid-response session for us with résumé help and information on benefits. Ask if yours will.