golden parachute Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “golden parachute” in the English Dictionary

"golden parachute" in British English

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golden parachutenoun [C]

uk   us   informal
a ​largepayment made to someone who has an ​importantjob with a ​company when that ​person is ​forced to ​leavetheirjob
(Definition of golden parachute from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"golden parachute" in Business English

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golden parachutenoun [C]

uk   us   HR
a large ​payment made to an ​executive if they are ​forced to ​leave a ​company, for ​example, if it is ​bought by another ​company: Investors ​voted against a golden ​parachute which could have ​netted the ​chiefexecutive up to $36 million if he was ​fired.
(Definition of golden parachute from the Cambridge Business English Dictionary © Cambridge University Press)
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