severance pay

noun

: 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 Other gains in this area include a travel allowance for those required to work outside a certain radius and a bump in severance pay. —

Christi Carras, Los Angeles Times, 1 July 2024 According to the news release, employees were notified on Saturday and offered severance pay. —

Susan Selasky, Detroit Free Press, 30 June 2024 And with former Viacom International chief Bakish counting his golden parachute severance pay, there is no one (and no reason) to protect any underperforming overseas businesses. —

Tony Maglio, IndieWire, 12 June 2024 Pisciotta claimed she was offered $3 million in severance pay but allegedly never received it. —

Njera Perkins, Peoplemag, 5 June 2024 See all Example Sentences for severance pay

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

Word History

First Known Use

1943, in the meaning defined above

Time Traveler

The first known use of severance pay was in 1943

See more words from the same year

Cite this Entry

Style

“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 26 Jul. 2024.

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