severance package

noun

formal
: money and other benefits given when employment is ended

Examples of severance package in a Sentence

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Hobbs was eventually rehired through another secretive process as a parent liaison and then the board’s chief of staff before again being dismissed with a six-figure severance package. Jay Steiger, San Diego Union-Tribune, 24 June 2025 With his severance package alone worth $69.3 million, more than the total pay packages disclosed for any other industry player, Bob Bakish, the former CEO of Paramount Global, was catapulted to the top of the annual compensation list. Georg Szalai, HollywoodReporter, 8 May 2025 The retail giant said that employees at the affected stores would be offered a severance package or have the opportunity to apply to any remaining stores at the company's other 1,150 locations listed nationwide. Brandi D. Addison, Austin American Statesman, 21 Feb. 2025 For example, the Culinary Workers Union in Las Vegas was able to negotiate a severance package requiring employers to pay $2,000 per year if an employee is laid off as a result of AI. Oludolapo Makinde, Forbes.com, 26 June 2025 See All Example Sentences for severance package

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

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