: money and other benefits given when employment is ended
Examples of severance package in a Sentence
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The folks impacted by the layoffs will receive a severance package that includes at least four months of base pay, with more based on tenure.—Dade Hayes, Deadline, 24 Mar. 2026 He was rewarded for his labor with a handshake, good-luck wishes and a severance package.—Mark Davis, USA Today, 23 Mar. 2026 Waddell said there is no severance package for those being laid off in March, meaning affected employees and their families will lose health insurance immediately.—Kevin Baskins, Des Moines Register, 26 Feb. 2026 The sole purpose of the amendment, the complaint continues, was to remove Welk, while during the same meeting the board voted to eliminate the CEO position altogether, without a severance package.—Philip Potempa, Chicago Tribune, 20 Feb. 2026 See All Example Sentences for severance package