voluntary redundancy
Elective job departure
Voluntary redundancy is a workplace arrangement where employees choose to leave their jobs, usually in exchange for a severance package, when an employer needs to reduce staff.
Common in British English, it allows companies to downsize without forcing layoffs: The company offered voluntary redundancy to fifty workers.
Those who accept typically receive better terms than they would in compulsory redundancy.
- severanceTermination pay or disconnection
- packageWrapped item for delivery
- payoutMoney distributed to recipient
- compensationPayment for services rendered
- golden handshakeLucrative payment upon departure
departure · exit · parting ways · walking papers · pink slip · buyout · settlement · handshake · golden · resignation · early retirement · early · retirement · workforce · restructuring · headcount · mutual agreement · agreement
voluntary redundancytermination
Act of ending something
firing · sacking · dismissal · layoff · downsizing
voluntary redundancyjob retention
Maintaining one's employment
hiring · recruitment · job security · employment · redeployment
voluntary, voluntarily, volunteer, volunteered, volunteering, volunteers, voluntarism, involuntary, involuntarily