severance pay
Layoff departure money
Severance pay is compensation an employer gives to a departing employee, typically when the job ends through layoff or restructuring rather than resignation or firing for cause.
It often reflects length of service: She received six months' severance pay after the merger.
Severance packages may include extended benefits, outplacement services, or agreements not to sue.
Money distributed to recipient
- remunerationPayment for work done
- settlementResolved dispute or colony
- indemnityProtection against financial loss
- golden parachuteLucrative exit agreement
golden handshake · exit package · lump sum · buyout · redundancy payment · termination pay · final paycheck · back pay
Termination without cause
- dismissalRemoval from position
- redundancyNeedless duplication
- downsizingReducing workforce or scale
- retrenchmentReduction of expenditures
pink slip · discharge · workforce reduction · job cut · restructuring · firing · termination notice · separation agreement
Seeking paid employment
- career changeMoving to different occupation
- outplacementJob-search help for terminated employees
- unemployment benefitsState aid for jobless workers
- COBRAInterim health coverage law
reskilling · networking · resume · headhunter · job fair · career counseling · professional development · income gap
Binding job terms document
- collective bargainingJoint worker-employer talks
- legal counselProfessional juridical guidance
- HR departmentStaff management division
- non-competeEmployment rivalry prohibition
non-disclosure · arbitration · mediation · counter-offer · retention bonus · vesting · labor law
payout
Money distributed to recipient
- remunerationPayment for work done
- settlementResolved dispute or colony
- indemnityProtection against financial loss
golden parachute · golden handshake · exit package · lump sum · buyout · redundancy payment · termination pay · final paycheck · back pay · garden leave
layoff
Termination without cause
- dismissalRemoval from position
- redundancyNeedless duplication
- downsizingReducing workforce or scale
retrenchment · pink slip · discharge · workforce reduction · job cut · restructuring · firing · termination notice · separation agreement · mass layoff
job search
Seeking paid employment
- career changeMoving to different occupation
- outplacementJob-search help for terminated employees
- unemployment benefitsState aid for jobless workers
COBRA · reskilling · networking · resume · headhunter · job fair · career counseling · professional development · income gap · freelancing
employment contract
Binding job terms document
- collective bargainingJoint worker-employer talks
- legal counselProfessional juridical guidance
- HR departmentStaff management division
non-compete · non-disclosure · arbitration · mediation · counter-offer · retention bonus · vesting · labor law
- compensation fundsredundancy pay
- employmentjob, jobs, career, careers, interview
- unemploymentunemployment, unemployed, jobless, joblessness, unemployment rate
- benefitsadvantage, healthcare coverage, dental insurance, benefit, health screening
- employee perkscompany car, gym membership, free meals, company housing, parking space
- incomesalary, earnings, income, wages, pay
severance paysigning bonus
Payment upon accepting employment
sign-on bonus · welcome bonus · retention bonus · golden hello · starting salary
severance paysummary dismissal
Immediate employment termination
wrongful termination · wage garnishment · nothing · clawback