In my belief when a person works hard for a long time they should always be rewarded in some way for that working.Upper management, the people who are considered to be in that class of working, have in most cases spent years of his or her lives to get in to position they are in.The devoted time and should gifted when they are let go., considereing they are usually let go to allow new management in.
I do not think they deserve a severance package any larger than lower tiered employees. What I mean by this is that I do not think they should get more weeks or months salary than those lower than them, even though the pay is obviously going to be much higher.
I think they should get the same package as everyone else. The package should be determined by how long they have been with the company. The people who are underneath them, can't expect to get a less package, if they have been there longer. It should depend on those factors and not salary.
I do not believe upper management deserves large severance packages. If a company is laying off employees it is conceivable that large severance packages are not in their budget and they should not be handed out. These people should collect unemployment like the majority of people are forced to do.