Severance
volume
British pronunciation/sˈɛvəɹəns/
American pronunciation/ˈsɛˌvɝəns/, /ˈsɛvɹəns/

Definition & Meaning of "severance"

Severance
01

the act of separating one thing from another

02

the act of formally terminating a connection, relationship, or association

03

the formal termination of a contract or agreement, particularly an employee contract

04

the money or benefits given to an employee when their job ends

example
Example
examples
The company is offering voluntary severance packages.
After the company's restructuring, employees were provided with severance as part of the official termination process.
After a thorough review, the manager decided on the severance terms for the employee, taking into account their contributions and the company's needs.
Following the merger, the organization offered a fair severance package to those employees whose positions were no longer needed.
When the company downsized, employees were offered a severance package to ease the transition into new employment.
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