Forced Resignation By Employer

I have been working with a reputed MNC since last 14 years. All of a sudden my login id/password was blocked and I was asked to submit my resignation. They offered option of one month salary as severance package and told otherwise they will terminate me with 2 months notice as they wanted to reduce some permanent positions of the company. Due to such sudden blocking of id and such sudden act, I was humiliated and suffering a lot as nowadays it is very difficult to get decent employment. As such the company referred here has received several awards in the past as best employer. Is it possible to protest their action/get the job continued or else get suitable compensation?