severancenoun [ U ]
uk/ˈsev.ər.əns/us/ˈsev.ɚ.əns/money paid by an employer to an employee whose job the employer has had to bring to an end:
The management have offered employees one week's severance (pay) for each six months they have worked at the company.
a severance agreement/deal/package
formal the act of ending a connection, relationship, etc. or of being separated from a person, place, etc.:
The minister announced the severance of aid to the country.
The hardest thing to cope with was the severance from his family.
Thesaurus: synonyms and related words
Payment methods
- ATM card
- baksheesh
- bank card
- bill
- blank cheque
- cash
- cash card
- cashpoint card
- certified cheque
- giro
- gratuity
- hard cash
- hush money
- per annum
- piece
- smart card
- standing order
- sweetener
- traveller's cheque
- voucher
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You can also find related words, phrases, and synonyms in the topics:
Earning money
Causing something to end
Firing staff