severance pay
noun
: an allowance usually based on length of service that is payable to an employee on termination of employment
Examples of severance pay in a Sentence
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The company also said employees who don’t have the opportunity to relocate will be offered severance pay and outplacement support.
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Natallie Rocha, San Diego Union-Tribune, 16 May 2024
Under the new contract, the employees will receive severance pay of $2,000 for each year of work.
—Rio Yamat, Fortune, 31 Jan. 2024
See all Example Sentences for severance pay 
Natallie Rocha, San Diego Union-Tribune, 16 May 2024
Under the new contract, the employees will receive severance pay of $2,000 for each year of work.
—Rio Yamat, Fortune, 31 Jan. 2024
See all Example Sentences for severance pay
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'severance pay.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 31 May. 2024.
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