One of the mysteries of the English language finally explained.
An amount paid to an employee on the early termination of a contract.
- ‘The severance pay would be worked out according to the number of years a worker had been with the company.’
- ‘The employees were given severance pay and job placement assistance or, in some cases, early retirement.’
- ‘After four years of service, she received one month's severance pay, roughly $3,000.’
- ‘Try to get the best deal on severance pay, outplacement help, health coverage, bonus, retirement benefits, and stock options.’
- ‘If generous severance pay is out of the question, negotiate for other departure perks.’
- ‘At issue are wages, severance pay, education subsidies and grievance procedures.’
- ‘Even here, the union leadership had negotiated the best severance pay in the industry.’
- ‘Employees will be paid severance pay according to their length of service.’
- ‘The two factories were shifted to Dubai without providing any severance pay to the 400 employees.’
- ‘Ryu loses his job, is robbed of his severance pay and has one of his kidneys removed without his knowledge.’
- ‘‘So the severance pay was designed to compensate workers if the company had no other resource but to send them home,’ he pointed out.’
- ‘In addition, government negotiators have proposed a rollback on health benefits, severance pay, and various leave provisions.’
- ‘They are demanding to be paid their June wages, and protesting a delay in severance pay to five laid-off workers.’
- ‘The decree stipulates that the severance pay for a worker depends on their working period.’
- ‘A domestic worker would also be entitled to severance pay of one week for each year of service.’
- ‘He gave her a reason for the termination and two weeks severance pay.’
- ‘I would take it easy for a few months and go scuba diving and windsurfing courtesy of my severance pay.’
- ‘Workers who lose their jobs are to receive career support resources, job posting services, extended benefits and severance pay.’
- ‘He said that after the sacking he received a call offering to increase his severance pay from one week to three months.’
- ‘Finally, many did not receive the severance pay and benefits to which they were legally entitled.’
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