severance package

noun

formal

: money and other benefits given when employment is ended

Examples of severance package in a Sentence

Recent Examples on the Web

Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.

All affected employees have been informed of the closures and have been offered a severance package or the ability to apply for other open positions at the company, Kohl’s said in the news release. —

Angela Palermo, Idaho Statesman, 10 Jan. 2025 The worker, who was laid off after Musk bought the social media service in 2022 for $44 billion, was awarded his full severance package in arbitration. —

Byandrew Nusca, Fortune, 25 Sep. 2024 Pochettino has a severance package with Chelsea — yes, them again — after his departure 12 months into a two-year contract. —

Ali Rampling, The Athletic, 19 Aug. 2024 Those staff who will lose their jobs will be given a severance package that includes a continuation of salary and health benefits for a period of time. —

Michael T. Nietzel, Forbes, 20 Oct. 2024 See all Example Sentences for severance package

Cite this Entry

Style

“Severance package.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20package. Accessed 18 Jan. 2025.

Copy Citation