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
Recent Examples on the Web
The team's $40 million budget will increase by at least $8 million, not including the $13 million that's been pledged to compensate football players or the $7 million the school budgeted in severance pay to outgoing coach Mack Brown and his staff over the next two years.
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Zachery Eanes, Axios, 13 Mar. 2025
Employees who will be let go will telework before receiving 90 days of severance pay plus additional compensated time depending on their length of service.
—Haisten Willis, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 12 Mar. 2025
Those who take it can combine it with retirement benefits, receiving either severance pay or $25,000, whichever is less.
—Gordon G. Chang, Newsweek, 4 Mar. 2025
Some have been notified they have been terminated immediately without severance pay and that their benefits will expire in just three days, at the end of January, while others who have been furloughed have been told their benefits will remain in effect through the end of February.
—Sara Cook, CBS News, 28 Jan. 2025
See All Example Sentences for severance pay
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Zachery Eanes, Axios, 13 Mar. 2025
Employees who will be let go will telework before receiving 90 days of severance pay plus additional compensated time depending on their length of service.
—Haisten Willis, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 12 Mar. 2025
Those who take it can combine it with retirement benefits, receiving either severance pay or $25,000, whichever is less.
—Gordon G. Chang, Newsweek, 4 Mar. 2025
Some have been notified they have been terminated immediately without severance pay and that their benefits will expire in just three days, at the end of January, while others who have been furloughed have been told their benefits will remain in effect through the end of February.
—Sara Cook, CBS News, 28 Jan. 2025
See All Example Sentences for severance pay
Cite this Entry
“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 31 Mar. 2025.
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