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Definitions

severance pay

NOUN
payout to fired or laid-off worker
Synonyms


Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

It accused Nexstar of pushing “to gut severance pay and insert onerous provisions into the union contract that limit workers’ ability to freely negotiate the terms of their own employment.”

From Los Angeles Times

Unionized workers at Diageo’s plant in Amherstburg in December ratified a closure agreement that provided enhanced severance pay.

From The Wall Street Journal

The draft law reduces severance pay, allows payments in kind and restricts vacation usage, among other proposals that the General Confederation of Labor considers "regressive."

From Barron's

People who did not move to another role received severance pay based on how long they had worked at the company.

From BBC

In August, Mr Musk and X agreed to settle a separate lawsuit filed by roughly 6,000 former rank-and-file Twitter employees who argued they were owed $500m in severance pay.

From BBC