Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “severance package”

severance package

noun [C]     HR
the pay and other advantages that an employee receives when their employment is ended by the management: The company is offering voluntary severance packages.
(Definition of severance package noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of severance package

Word of the Day

closeness

the quality of knowing someone very well, liking them a lot, and wanting to spend a lot of time together

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More