severance Meaning in the Cambridge English Dictionary
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Meaning of “severance” in the English Dictionary

"severance" in British English

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severancenoun [U]

uk   /ˈsev.ər.əns/  us   /-ɚ-/
moneypaid by an ​employer to an ​employee whose ​job the ​employer has had to ​bring to an end: The ​management have ​offeredemployees 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 ​ministerannounced the severance ofaid to the ​country. The ​hardest thing to ​cope with was the severance from his ​family.
(Definition of severance from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"severance" in American English

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severancenoun [U]

 us   /ˈsev·ə·rəns/
moneypaid by an ​employer to an ​employeeordered to give up a ​job: a severance ​package severance ​pay The ​companyoffered severance to everyone who was ​let go.
(Definition of severance from the Cambridge Academic Content Dictionary © Cambridge University Press)

"severance" in Business English

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severancenoun [U]

uk   us   /ˈsevərəns/ HR, LAW
the ​officialending of an ​agreement, especially between an ​employer and ​employee: He is ​entitled to $40,000 in severance ​pay. The ​unionnegotiated severance ​agreements for all ​staff made ​redundant. severance ​benefits/​compensation/​payments
payment received by an ​employee when their ​employment is ​ended by the ​management: Workers with less than 6 months ​employment did not receive any severance.
(Definition of severance from the Cambridge Business English Dictionary © Cambridge University Press)
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