Severance pay
Severance pay is a lump sum or a dispersal of payments given to employees who are permanently separated from the company through no fault of their own
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Severance pay. A lump sum or a dispersal of payments given to employees who are permanently separated from the company through no fault of their own
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
