severance payment
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English
Noun
severance payment (plural severance payments)
- Money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver.
- 2021 September 22, Guillem Balagué, “Barcelona: The toxic battle ripping apart a European giant”, in BBC Sport:
- And it gets worse. Barcelona will have to pay even more if he is fired in the interim. Last week, TV3 reported that a high severance payment - amounting to a total of about 12m euros - is on the table.
Synonyms
Translations
money paid to employee in case of layoff — see severance pay