severance pay

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Related to Severance package: severance agreement, severance pay

severance pay

Money paid to an employee upon termination of his or her employment.
References in periodicals archive ?
Figures for each authority included: | Middlesbrough - 280 severance packages at a total cost of PS3.
Cardamone's yearly salary under the severance package is around $70,000.
Specific types of severance packages and what to expect
You will have admonished them, encouraged them with the severance package, and admonished them again to bring forth solid data devoid of politics, guile, and more politics.
Bayer recommends working with a career counseling expert on your severance package.
We understand that the cost of the severance package may be trivial compared to a continuing decline in shareholder value.
The company today finalized a severance package for the employees whose jobs are being eliminated by the closure of certain operations at the plant.
A planned retention and severance package for about 1,800 management and other salaried employees at US Airways has been approved by a bankruptcy court judge.
BT has shed around 5,000 staff a year in the past but its current severance package is not seen as attractive enough to persuade enough workers to leave.
But no matter what direction you take, starting your journey with a good severance package will help smooth out the ride.
Communicating why a management decision was necessary can often defuse negative reaction, but some information, such as the details of the person's severance package, are best kept a secret.
Many professionals have excellent opportunities to negotiate a severance package, but continue to believe that severance pay is a 'take it or leave it' situation and make the mistake of signing Separation and Release of Claims agreements with restrictive covenants written by, and for, the company without even thinking about the impact on their future careers," Nemer states.