severance package
Layoff payment bundle
A severance package is compensation offered to an employee upon termination, typically including continued salary, extended benefits, and sometimes outplacement services.
Companies offer severance to ease transitions, maintain goodwill, or secure legal releases: The layoffs came with generous severance packages.
Terms are often negotiable, especially for executives.
- termination agreementContract formalizing job's end
- terminationAct of ending something
- walking papersInformal dismissal notice
- dismissalRemoval from position
- redundancyNeedless duplication
golden parachute · soft landing · career counseling · notice period · garden leave · exit interview · clean break · human resources · layoff · two weeks notice · non-compete clause · unemployment · peer support groups · downsizing · redundancy payment · separation agreement · mental health counseling · retirement contributions
- corporate worldCEO, CFO, COO, VP, executive
- job perkssalary, perks, pension plans, 401k, benefits
- contractsbinding contracts, contract length, lease, clause, contract terms
- labor lawlabor code, labor law, labor laws, labor standards, labour law
- employment termslabor contract, salary, employment terms, internship, contract terms
- Offboardingexit interview, final paycheck, termination letter, resignation letter, notice period
severance packagesigning bonus
Payment upon accepting employment
welcome bonus · golden hello · sign-on bonus · job offer · retention bonus
severance packagejob security
Protected employment status
permanent position · tenure · employment contract · lifetime employment · golden handcuffs