severance pay


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severance pay

n.
A sum of money usually based on length of employment for which an employee is eligible upon termination.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

severance pay

n
(Industrial Relations & HR Terms) compensation paid by an organization to an employee who leaves because, through no fault of his own, the job to which he was appointed ceases to exist, as during rationalization, and no comparable job is available to him
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
Translations
ontslagvergoeding

severance pay

nAbfindung f
Collins German Dictionary – Complete and Unabridged 7th Edition 2005. © William Collins Sons & Co. Ltd. 1980 © HarperCollins Publishers 1991, 1997, 1999, 2004, 2005, 2007

severance pay

n (Industry) → indennità di licenziamento
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
References in periodicals archive ?
When it comes to severance pay, they will be paid within three days from the date of signing the termination of the employment contract and the average amount will be about 8,500 KM.
Summary: Amount owed to the employee can be deducted from his severance pay.
Therefore, the programme does not cover severance pay and gratuity,' he said.
A new bill would ramp up the severance pay for laid-off employees, nearly double the notification period and bar employers from laying off workers six months before and up to two years after a bankruptcy.
According to the Labour Ministry, factory owners must pay their workers a seniority payment twice a year in June and December, as well as severance pay upon conclusion of an employment contract.
Vicki Barbera claims she did not get the same chance to resign with severance pay that three men got.
This was done after co-founder N R Narayana Murthy and others had raised objections to the severance pay terming it excessive.
In what cases does an employee lose his entitlement to severance pay?
Tom Cullerton of Villa Park sponsored the Government Severance Pay Act, calling it "common-sense reform." The new law caps severance pay at 20 weeks of an employee's salary.
How the end-of-service (or) severance pay is calculated:
The lack of money in TfL's coffers has led to the tube upgrade program on the Northern and Jubilee lines to be scrapped, but departing staff took a total of [pounds sterling]51.4 million home last year in severance pay.
Does Genesis BBQ covet the severance pay of dismissed industrial workers in Gunsan?