severance (/ˈsev.ər.əns/)
noun · Advanced · Work & Business
🔊 /ˈsev.ər.əns/
Meaning
Meaning: payment on leaving a job
Money paid to an employee when their job ends, often when they are laid off.
Examples
🗣 When the company closed, each worker received several months of pay as severance.
Etymology
From ‘sever’ (Old French ‘severer’, from Latin ‘separare’, to separate) plus ‘-ance’.
How & Where It’s Used
Used in employment for end-of-job pay; also means the act of cutting off.
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Tags: work, money