severance pay

noun

Definition of severance pay

: an allowance usually based on length of service that is payable to an employee on termination of employment

Examples of severance pay in a Sentence

Recent Examples on the Web Those cut will receive 14 weeks of severance pay, plus two weeks for every year of employment with the company past one year. Jacob Bogage, Washington Post, 14 June 2022 And in the company’s haste to roll out severance pay, employees prematurely received severance checks in their payroll system, leaking news of the job cuts a day early. Paige Mcglauflin, Fortune, 2 June 2022 Made by Fabric employees told The Times that the company will use the remaining money in its accounts to pay out at least six weeks of severance pay. Wendy Lee, Los Angeles Times, 24 May 2022 The agreement offers 60 working days of severance pay and health insurance coverage. Camille Furst, WSJ, 6 Apr. 2022 The hotel abruptly fired its nearly 250-person staff in 2020 with no severance pay and only a brief extension of health benefits. Los Angeles Times, 25 Mar. 2022 When Bendix lost a government contract and a layoff followed, Mr. Zimmerman took his severance pay and enrolled at the Maryland Institute College of Art. Jacques Kelly, baltimoresun.com, 16 Dec. 2021 Jones went back to her home state of Mississippi with $20,000 in severance pay, and talked to the woman who had always supported her love of fashion: her mom. Virgie Tovar, Forbes, 31 Aug. 2021 Those who refuse to get vaccinated will have the option of taking a year of unpaid leave with health benefits or quitting their jobs with severance pay. Nicholas Reimann, Forbes, 1 Oct. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'severance pay.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of severance pay

1943, in the meaning defined above

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Time Traveler for severance pay

Time Traveler

The first known use of severance pay was in 1943

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Dictionary Entries Near severance pay

severance package

severance pay

severance tax

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Statistics for severance pay

Last Updated

22 Jun 2022

Cite this Entry

“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 3 Jul. 2022.

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More from Merriam-Webster on severance pay

Nglish: Translation of severance pay for Spanish Speakers

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