A layoff notice from Samsung Electronics America starts five time-sensitive clocks that most employees do not know about. Samsung announced on July 20, 2026 that hundreds of workers are being laid off as the company moves its U.S. headquarters to Plano, Texas. Workers across functions tied to that transition are affected. The severance terms have not been publicly disclosed. What follows is every deadline you need to track, in the order they hit.

Your most urgent actions
  • File for Texas unemployment at twc.texas.gov today. Benefits don't backdate.
  • Review your severance agreement carefully. If you're 40+, you have at least 21 days.
  • Elect or waive COBRA within 60 days. You can decide retroactively, but not after day 60.
  • Do not roll over your 401(k) indirectly. Use a direct rollover to avoid the 60-day trap.
  • Set a reminder for September 15. That's the Q3 estimated tax deadline if your severance withholding comes up short.

Written by the Layoff HQ research team. Sources verified against DOL, EEOC, IRS, and state workforce agency primary documentation.

What happened

Samsung Electronics America announced on July 20, 2026 that it is laying off hundreds of employees as the company relocates its U.S. headquarters to Plano, Texas. The layoffs affect workers across various functions tied to the headquarters transition. Samsung has not publicly disclosed severance terms.

File for unemployment today, not tomorrow

Unemployment insurance is a wage replacement benefit funded by employer payroll taxes. You paid into this system. Use it.

Texas processes claims through the Texas Workforce Commission. File at twc.texas.gov. You can file online, by phone, or in person at a Workforce Solutions office. Online is the fastest option.

File the same day you lose your job, or the next day at the absolute latest. Texas does not backdate claims. Every day you wait is a day of benefits you cannot recover. Texas's maximum weekly benefit is $577 as of 2026.1

Texas has a one-week waiting period before your first payment. That week does not count against you, but it means your first check covers week two, not week one. The earlier you file, the sooner that clock starts.

When you file, have these ready: your Social Security number, your Samsung employment dates, your last salary, and your bank account information for direct deposit. Texas uses ID.me for identity verification. If you don't already have an ID.me account, set one up before you start your claim. It saves time.

Your Samsung severance pay may affect your benefit eligibility during the weeks it covers. Report severance honestly when prompted. TWC will calculate your benefit offset based on what you report. Lying on a UI claim is fraud; the penalties are far worse than a temporary reduction in benefits.

What should you do about your health insurance?

COBRA is a federal law that lets you keep your Samsung health coverage for up to 18 months after your last day. The catch: you now pay the full premium, including the portion Samsung was covering, plus a 2% administrative fee.

The average COBRA premium for individual coverage in 2026 is approximately $703 per month.2 For a family plan, that number is significantly higher. This is often the biggest financial shock in the first month after a layoff.

You have 60 days from the date your coverage ends (or the date you receive your COBRA election notice, whichever is later) to elect or waive coverage.3 Here is the part most people miss: COBRA is retroactive. If you elect on day 55 and pay the premium, your coverage is treated as continuous from day one. You don't need to decide right away as long as you decide before day 60.

The Marketplace is the other option. Losing employer health coverage triggers a 60-day Special Enrollment Period on healthcare.gov.4 Depending on your projected income this year, you may qualify for a premium tax credit that makes a Marketplace plan cheaper than COBRA. Compare both before you decide.

One practical move: don't waive COBRA and sign up for Marketplace coverage until you've confirmed your Marketplace plan is active. Gaps in coverage are expensive if something goes wrong.

Should you sign that severance agreement?

A severance agreement is a contract. In exchange for a payment, you typically waive your right to sue Samsung for certain claims. Read it before you sign it, ideally with an employment attorney.

If you are 40 years of age or older, the Older Workers Benefit Protection Act (OWBPA) gives you specific legal rights.5 Samsung is required to give you at least 21 days to consider an individual severance agreement. If this is a group layoff involving two or more employees, that window extends to 45 days.6

After you sign, you have 7 days to change your mind and revoke.7 The agreement is not enforceable until that 7-day window closes. Do not let anyone pressure you into signing on the spot. That pressure is a negotiating tactic, not a legal requirement.

Samsung has not publicly disclosed its severance terms. If you receive an offer, look at these items specifically: the payment amount, whether non-disparagement clauses are mutual, what happens to unvested equity (if any), and whether the agreement waives claims you haven't discovered yet. That last one matters.

Severance is sometimes negotiable, especially for long-tenured employees or those in specialized roles. You have more leverage before you sign than after.

What does severance do to your taxes?

Severance pay is ordinary income. The IRS treats it as supplemental wages, which means Samsung will withhold federal income tax at a flat 22% rate on the payment.8

Here's the problem with that: 22% is the supplemental withholding rate, not necessarily your actual marginal rate. If your total income this year (salary through your last day, severance, any other income) puts you in a higher bracket, you may owe additional tax in April. The 22% withheld is a floor, not a guarantee.

Q2 estimated taxes were due June 15, 2026. If you received severance before that date and the withholding was short, that deadline has passed. Your next checkpoint is Q3, due September 15, 2026.9 Use IRS Form 1040-ES to calculate whether you owe a Q3 payment.

Texas has no state income tax, so if you live and work in Texas, you do not owe state tax on your severance. If you were working remotely from another state, check that state's rules separately.

What should you do with your 401(k)?

Your vested 401(k) balance is yours. Leaving Samsung does not change that. What changes is your options.

You have three main choices: leave the money in Samsung's plan (allowed in most cases if your balance is above a minimum threshold), roll it directly to a new employer's plan or an IRA, or take a cash distribution. The third option is almost always the worst choice. Cash distributions are taxable income in the year you receive them, and if you're under 59.5, you'll also owe a 10% early withdrawal penalty on top of income tax.

If you want to move the money, do a direct rollover. This means the funds transfer from Samsung's plan administrator directly to your new account. You never touch the money. No taxes, no penalties, no deadline pressure.

If you take an indirect rollover (Samsung sends you a check), you have 60 days to deposit the full amount into a qualifying retirement account.10 Samsung is required to withhold 20% of the distribution for taxes. To roll over the full amount and avoid taxes on the withheld portion, you have to come up with that 20% out of pocket and deposit it along with the check. Then you get the withheld amount back as a tax refund. It's a hassle. Just do the direct rollover.

If you have Samsung stock inside your 401(k), ask your plan administrator about Net Unrealized Appreciation (NUA) rules before you roll anything over. In some situations, NUA treatment lowers your overall tax bill on the stock portion. It's worth asking about.

Check your post-layoff checklist to make sure you've covered every account, including any HSA or FSA tied to your Samsung benefits.

Deadlines and rules described here reflect federal law and general state guidelines as of the article date.

The Layoff Guide

The deadlines above apply whether or not you are tracking them. The Layoff Guide from Layoff HQ is a 33-page field guide that covers all twelve post-layoff deadline events in the order they arrive: unemployment, the severance review and revocation windows, COBRA and the Marketplace, your FSA, your equity window, your 401(k), and your taxes. Each event comes with timed checkpoints, the decision math, and the one mistake that costs people the most, plus a fill-in worksheet that turns your last day worked into your complete personal deadline calendar. One-time purchase. No subscription. Instant download, with a 14-day full refund if it is not useful.

Get The Layoff Guide, $39 or build your free Decision Calendar.

  1. Texas Workforce Commission, Eligibility and Benefit Amounts, 2026.
  2. KFF, Health Policy 101: Employer-Sponsored Health Insurance, 2026.
  3. U.S. Department of Labor, COBRA Continuation Coverage.
  4. Healthcare.gov, Special Enrollment Periods.
  5. EEOC, Age Discrimination in Employment Act; OWBPA individual review window: 21 days.
  6. EEOC, OWBPA group termination review window: 45 days.
  7. EEOC, OWBPA revocation window: 7 days after signing.
  8. IRS, Publication 15 (Circular E), supplemental wage withholding rate: 22%.
  9. IRS, When to Pay Estimated Tax; Q3 2026 due date: September 15, 2026.
  10. IRS, Rollover Chart; 60-day indirect rollover rule.