I've been through a few layoffs in my day. Nova, Telus, Bell. From my experience, the first offers are always the best. Especially the voluntary ones. When they get to the later rounds, and they choose who goes, the package is always smaller. I volunteered at Telus, and got an awesome package. At Bell, I stayed to the very end. It sucked. My team went from 4 to me, so I had to make up the work. The moral at work was horrible that last year. Every day became a slog. In retrospect, I would have taken the package and moved on. I was lucky though. When I left Telus, I was hired a week later by Bell. When I left Bell, I was hired a week later by Shaw. It would have been nice to have time off, but the opportunities were there, so I took them.
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