My company is in the middle of this right now. They are giving it a fancy name and offering some token compensation, but bottom line, if you were over 60 you had to retire early and train your replacement. There is a small bonus for the training, but the company will judge if you met the requirements. No compete clause. No rehire, including no consulting. And, of course, all the replacements are in India. If you didn’t take this program it was made very clear that you would be laid off in a “reduction of force” sometime early in 2020.
The people in charge deserve to be fitted for rope neckties.
Do you have any further details?
Let them lay you off (RIF), take the unemployment benefits and retire afterward if you are able - force their hand. I’ve seen tons of people do it and I’ve only seen a few that asked to be included in a RIF be denied.