redundancy package
Job loss payment
A redundancy package is the compensation and benefits offered to employees who are being laid off, typically including severance pay, extended health coverage, and job placement assistance.
The term is primarily British; Americans more often say severance package.
The company offered a generous redundancy package to workers accepting voluntary redundancy.
- severanceTermination pay or disconnection
- lump sumEntire amount at once
- layoffTermination without cause
- dismissalRemoval from position
- payoutMoney distributed to recipient
downsizing · compensation · termination · walking papers · jobless · job loss · pink slip · forced exit · golden parachute · early retirement · outplacement · career transition · restructuring · unemployment · benefits · settlement · cutbacks · exit
redundancy packagejob offer
Formal employment invitation
employment contract · signing bonus · promotion · onboarding · welcome bonus
redundancy packageretention bonus
Payment to keep employees
loyalty bonus · golden handcuffs · performance bonus · merit raise · counter-offer
redundancy, redundant, redundantly, package, packages, packaged, packaging, packager, abundant