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English definition of “redundancy package”

redundancy package

noun [C]    
HR all the payments and advantages that a company gives to workers who have lost their jobs because they are no longer needed: If the redundancy package is very generous many staff will opt for that and not even consider relocating.
(Definition of redundancy package noun from the Cambridge Business English Dictionary © Cambridge University Press)
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a person or group who receives money, advantages, etc. as a result of something else

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