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

Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.

Affected employees will get sixteen weeks of severance pay, equity, bonus plan lump sums, payouts of approved leave, and immigration consultation for those on work visas. —

Umar Shakir, The Verge, 30 Oct. 2024 The company agreed to extend her severance pay from two months of coverage to four in the event White was let go for reasons unrelated to her performance. —

Jennifer Liu, CNBC, 22 Oct. 2024 After that period, Dewan will receive severance pay, as provided by her employment contract for termination without cause. —

Nollyanne Delacruz, The Mercury News, 3 Oct. 2024 Employees whose jobs are part of the reduction will receive severance pay and benefits, including access to outplacement services, the company added. —

Aimee Picchi, CBS News, 1 Oct. 2024 See all Example Sentences for severance pay

Word History

First Known Use

1943, in the meaning defined above

Time Traveler

The first known use of severance pay was in 1943

See more words from the same year

Cite this Entry

Style

“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 24 Nov. 2024.

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