Don’t let that fear cow you into accepting marginal raises or career stagnation (assuming you’re not happy at your current level). Severance (outside the US) is usually generous enough to skate into your next opportunity and, tbh, working in constant fear is fucking awful for your mental health.
Would probably say in your contract if you have any sort of severance regardless of where you live? Or is there some sort of mandatory severance in some places?
Most places in the US will have nothing about severance written down anywhere, but it’s very common to actually pay severance in a mass layoff situation (unless the whole business is going under).
In most of the developed world there is a mandatory level of severance (and companies can obviously exceed that if they want but the base amount is guaranteed). In BC it’s one week after three months (the probationary period) a second week after one year and then one additional week per year up to a maximum of eight weeks.