Severance pay

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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

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