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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
Examples
After years of partnership, the business owners decided to negotiate a severance, officially dissolving their joint venture.
In the divorce settlement, they agreed on terms for spousal severance, outlining the distribution of assets and financial support.
03
the formal termination of a contract or agreement, particularly an employee contract
Examples
After a thorough review, the manager decided on the severance terms for the employee, taking into account their contributions and the company's needs.
The human resources department explained the terms of severance to the departing employees, outlining the compensation and benefits they would receive.
04
the money or benefits given to an employee when their job ends
Examples
Upon retirement, the long-serving employee received a well-deserved severance as a token of appreciation for their years of dedication to the organization.
When the company downsized, employees were offered a severance package to ease the transition into new employment.
Lexical Tree
severance
sever
