Can you negotiate severance?
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Who Has Leverage: Who has leverage when you're laid off?
Often you: companies want a signed release of claims. US federal law doesn't require severance; it's a matter of agreement. Companies often tie it to signing a release of legal claims, which gives you something to trade. Source: US DOL – Severance pay
The Best Move: Best move?
Ask for time to review and request more weeks, benefits or a reference. Many agreements allow review time; asking politely is normal. Source: Wikipedia – Severance package
The Trap: Trap?
Signing on the spot. Once signed, there's nothing left to trade. Source: Wikipedia – Severance package