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severance package
01
***the pay and other advantages that an employee receives when their employment is ended by the management
Example
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.
The company provided a severance package upon the employee 's release.
Example
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.
The company provided a severance package upon the employee's release.
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