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My initial reaction was to go with job #2 since you feel as if you would be happier there. However, in this job market the defining factor for me would be which company is the most stable. IOW, which company would I feel I would have a better "survival" rate. Of course there are no guarantees with any company...
As far as the severance goes, I don't have any experience negotiating in that area. My jobs have always paid out by number of years of my employment. I suppose in higher management positions there could be some negotiation. Perhaps you could ask employer #2 for copies of employee handouts and see if there is anything mentioned about severance before you bring this question to their attention.
Good luck.
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......ibyoig......
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