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severance pay
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noun
money, exclusive of wages, back pay, etc., paid to an employee who has tenure and who is dismissed because of lack of work or other reasons beyond the employee's control.
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Origin of severance pay
First recorded in 1940â45
Words nearby severance pay
several, severalfold, severally, severalty, severance, severance pay, severance tax, severe, severe combined immune deficiency, severed, severely
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use severance pay in a sentence
British Dictionary definitions for severance pay
severance pay
noun
compensation paid by an organization to an employee who leaves because, through no fault of his own, the job to which he was appointed ceases to exist, as during rationalization, and no comparable job is available to him
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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