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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
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.
When the company downsized, employees were offered a severance package to ease the transition into new employment.
Following the merger, the organization offered a fair severance package to those employees whose positions were no longer needed.
