Links in the widget take you to Telonu’s page for that company, which gives detailed information about the event and allows members to leave presumably disgruntled comments. Here’s the page detailing the latest round of layoffs at Jabil Circuits, a local company.
I could find no information at Telonu about an API to access their data. Hopefully in true Web 2.0 fashion, Telonu will create an interface to their layoff database. A Telonu-Google Maps-Yahoo Finance mashup with a county-level unemployment data overlay tile would be another cool, but depressing, idea.