redundancy payment

British

noun

a sum of money given by an employer to an employee who has been made redundant: usually calculated on the basis of the employee's rate of pay and length of service

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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.

She said it was clear Ms Donelan valued public money because she once turned down a redundancy payment after serving as education secretary for 36 hours.

From BBC • Mar. 7, 2024

However, Ms Dhillon used her redundancy payment to develop an events business she had been running as a side-hustle, Ricco Events, which she then adapted into a digital marketing agency after lockdown restrictions.

From BBC • Jul. 12, 2022

Many firms ask for volunteers, and offer an enhanced redundancy payment.

From BBC • Sep. 30, 2021

Teachers who wanted to take voluntary redundancy were offered protective redundancy notices at the end of April, "subject to the Department of Education funding the redundancy payment".

From BBC • Jul. 6, 2015

I was made redundant just before my 40th birthday, and took the difficult decision to move home from London to Wolverhampton to freelance, stretch out my redundancy payment and regroup.

From The Guardian • Aug. 18, 2014

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023