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Definition of Severance payment
1. Noun. Money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver. ¹
¹ Source: wiktionary.com
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1. Noun. Money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver. ¹
¹ Source: wiktionary.com