I have been working for my current company for 5 months (non unionized) and was laid off the other day without cause or reason, no termination letter either. Is there anything I am entitled to as compensation for being let go without cause or explanation?

In the circumstances, you may very well be entitled to compensation - severance. We encourage you to contact our firm and schedule a consultation with one of our employment lawyers. One of our employment lawyers can fully review your circumstances, provide you with guidance and advice regarding your workplace rights, and assist you in navigating the situation in a manner that best suits your goals, including assessing your lawful termination entitlements.