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 Dennis Muilenburg, who was fired by the Boeing board after two fatal crashes and a 10-month grounding of all the company’s 737 Max jets, collected $80 million on his way out the door but did not pick up a severance package. Amanda Gerut, Fortune, 25 Mar. 2024 For one thing, many companies offer a severance package. Caroline Castrillon, Forbes, 25 Feb. 2024 All employees will receive a severance package or get the opportunity to work in a different location. Esme Mazzeo, Peoplemag, 26 Jan. 2024 According to a person familiar with the matter, the 12 staffers who have been cut have been placed on leave while the union negotiates a severance package. Ariel Shapiro, The Verge, 31 Jan. 2024 Union employees were offered two options, Hansen said: a $10,000 redeployment package to relocate to another APS plant or a severance package worth a year's salary to stay at Cholla until their unit closed down. Alexis Waiss, The Arizona Republic, 6 Mar. 2024 All employees affected by the In-N-Out closure will be able to transfer to nearby In-N-Out locations or seek a severance package. Mirna Alsharif, NBC News, 23 Jan. 2024 Few details are available at this point, including whatever severance package might be in line for Kliavkoff, who was hired in the spring of 2021. Jon Wilner, The Mercury News, 13 Feb. 2024 Nine Media Corporation’s president Benjamin Ramos reportedly said that Nine Media’s management is committed to providing a fair severance package to all employees. Patrick Frater, Variety, 29 Jan. 2024

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 24 Apr. 2024.

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