My responsibilities were given to a new hire?

Hey everyone,

Had an unfortunate conversation with HR and a director, about how a recent hire was to be taking over my job responsibilities and essentially that I'll serve my duties till the end of the month? They expressed they wanted to give me a headsup that they are actively trying to find something for me internally but want to support me as I look externally as well and start to apply? They made it clear that its not a redundancy, but Im a bit confused/disappointed/hurt of the whole thing? Does this call for redundancy grounds, and/or severance packages? I was thinking of polishing the resume this weekend and providing copies to some internal managers with a coverletter with a business case for a role in their departments. As well as, reaching out to previous opportunities in my network and job adverts. Any advice, tips, for a fresh grad who is facing this all for the first time would be appreciated!

Thanks guys