Noun
severance pay (uncountable)
Money paid as compensation to someone whose employment is ended, often in exchange of waiver.
Synonyms: separation allowance, severance payment, severance
I did 'Lone Star Love' in 2007 with Randy Quaid, and that was supposed to come to Broadway at the Belasco and a marquee went up and everything... and it all fell apart, and that marquee came right down, and we got severance pay. And, it was very sad. Kara Lindsay
Am I entitled to severance pay? Source: Internet
A survey of factory owners in Bangladesh by Pennsylvania State University’s Center for Global Workers’ Rights found that millions of workers, mostly women from rural areas, had already been sent home without owed wages or severance pay. Source: Internet
Full-time and salaried employees cut loose in the layoffs may receive up to four weeks of severance pay, according to the report. Source: Internet
A 28-year-old researcher whose company was shuttered by decree after the failed putsch said she received no severance pay and is now basically unemployable. Source: Internet
It was composed of former WorldCom employees with a common goal of seeking full payment of severance pay and benefits based on the WorldCom Severance Plan. Source: Internet