severance package

noun

formal
: money and other benefits given when employment is ended

Examples of severance package in a Sentence

Recent Examples on the Web Elliott resigned May 1, 2022, after negotiating a severance package that included $62.5 million in cash for his Pasaca stock, a Gulfstream jet and the forgiveness of $19.5 million in company loans, according to the Nevada lawsuit filed against him. Laurence Darmiento, Los Angeles Times, 17 July 2024 The company then sent them emails with details about the severance package. Angela Palermo, Idaho Statesman, 29 June 2024 In his testimony at the AG trial, Weisselberg said the company gave him a $2 million severance package on his way into Rikers, to be doled out in installments. Molly Crane-Newman, New York Daily News, 6 Feb. 2024 While layoffs are never considered a good thing, some praised Chesky for striving to be empathetic in his language and providing a generous severance package that included a year’s worth of health insurance. Alicia Adamczyk, Fortune, 3 June 2024 See all Example Sentences for severance package 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'severance package.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Dictionary Entries Near severance package

Cite this Entry

“Severance package.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20package. Accessed 27 Jul. 2024.

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!