Good you are preparing. Even if your position might seem to be okay for now, it is just a matter of time I guess. Rather start sending out CV now than wait for the last minute. It can take sometimes months before finding another job. Eish!
I stand corrected here but I think the standard is 1 week per year worked. I'm not sure if that is a legal requirement, though, probably more just accepted norm.... I'll hold thumbs that your situation improves and something better comes out of this for you!
Sorry about the kak situation. I took a voluntary separation last year after waiting and knowing it was coming for about a year. We were given 2 weeks pay per completed year. Double notice period as well as 13th cheque and incentive bonus as our separation. All was tax free under a tax directive. Ended up with some decent cash on hand and was in my new job less than a month later. Would have preferred more time off but work couldn't wait.
If you are good at what you do you should be able to find something decent quickly.
Keep in mind that your package is negotiable. When I was retrenched in 2018, I went back to my employer and asked for 2 weeks pay for every year and they said "sure thing!". Not sure what happened behind the scenes but I had made them aware of a number of things they didn't do correctly in the retrenchment process and I'm guessing they figured if they increase my package it'll reduce the chances of me going to CCMA or Labour Court.
Keep your chin up and get busy applying for jobs. Try to avoid the depressing conversation with your peers. Best case scenario: You find a new job where you start as soon as you're laid off and you'll get your package + new salary with 10% increase.