Options for union workers whose jobs are eliminated.

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I had a meeting at my job yesterday where they informed me that my position had been eliminated. I found out that I have the option of bumping a worker with less seniority. I would like to keep working for the company but it seems greedy to take someone else's job when I already have a new job lined up starting at the end of the month. Would you just take the severance pay and wait for the new job to start or take a lower paid workers job and have 2 jobs while so many people are unemployed.