If and when you get called into that dreaded meeting, you need to be ready to negotiate your severance package, and to do that, you need to do some research beforehand, says Stacy Francis, a financial planner in New York. "If you have even a whiff of possibly being laid off, start to find out what type of severance packages are out there in your industry. This is something people are willing to talk about, and you want to understand the typical range so you know if you're getting a good deal or if you should ask for more."

Employers expect you to negotiate, so long as you do it professionally. If you're unsure what to ask for, consult an employment attorney before signing on the dotted line.