They also gave everybody a month to accept or decline that offer.
In practice, that meant that everybody at the remote office spent a month getting paid to look for a job. It was a bit like the job center in The Full Monty, but folks were actively supporting each other: helping each other practice whiteboard questions, going over each others' resumes, etc.
If you can get current on some new technology on company time or raise your profile, do it. Folks who didn't get a relocation offer got to clean out their desks the day the bigwigs showed up.
I don't have numbers from the group of people formerly of that office, but from my experience it's a hell of a lot easier to find a job if you have one than if you don't. If your company seems shaky, the time to start looking is now.
[1] Edited per suggestion here: https://news.ycombinator.com/item?id=23181222 originally read "remote".