Should you wait for the severance package or change jobs ASAP?

So let’s pretend that your company will be laying off people soon but you don’t know when, but you do know they will offer severance packages. Should you wait around to get the severance package, or should you find and start a new job before the severance is offered?
Ideally, you would get the severance package, followed by a new job shortly thereafter.
The issue is that everyone’s job prospects are different. If you are confident, you can get a good job quickly, then collect the severance, and then start a new job.
If you are not confident about your job prospects, the situation becomes more precarious. I would still recommend you start looking for a job and see if something great presents itself. It would be in this situation that you could forego the severance package entirely, and just hop to the next job.
You only really lose in this situation once the severance runs out and you are still not employed.
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