redundancy payments
Job loss money
Redundancy payments are compensation given to employees who lose their jobs because their positions are eliminated—the work itself has become unnecessary, not the worker inadequate.
In British employment law, statutory redundancy pay is calculated based on age, length of service, and weekly earnings.
She received six months' salary in redundancy payments when the factory closed.
- restructuring plansStrategies for corporate transformation
- staff cutsReducing employee numbers
- severance agreementsExit compensation contracts
- exit packageBenefits upon leaving employment
- final paycheckLast employment earnings
job losses · pension payouts · unemployment benefits · pink slip · last day · unemployment rates · golden handshake · anti-discrimination policies · retrenchment · notice period · walking papers · whistleblower protections
redundancy paymentspension
Retiree's ongoing benefit
signing bonus · retention bonus · salary · wages · retirement benefits
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