se
ve
rance
Plural
severances
1
the act of separating one thing from another
Synonyms:
2
the act of formally terminating a connection, relationship, or association
- After years of partnership, the business owners decided to negotiate a severance, officially dissolving their joint venture.
- In the divorce settlement, they agreed on terms for spousal severance, outlining the distribution of assets and financial support.
- The athlete and the sports team mutually agreed on a severance, allowing the player to explore opportunities with other teams.
Synonyms:
3
the formal termination of a contract or agreement, particularly an employee contract
- After a thorough review, the manager decided on the severance terms for the employee, taking into account their contributions and the company's needs.
- The human resources department explained the terms of severance to the departing employees, outlining the compensation and benefits they would receive.
4
the money or benefits given to an employee when their job ends
- Upon retirement, the long-serving employee received a well-deserved severance as a token of appreciation for their years of dedication to the organization.
- When the company downsized, employees were offered a severance package to ease the transition into new employment.
- In the employment contract, there was a clear provision detailing the conditions under which severance would be provided in case of termination.
- Following the merger, the organization offered a fair severance package to those employees whose positions were no longer needed.
- After the company's restructuring, employees were provided with severance as part of the official termination process.