severance Definition in Cambridge British English Dictionary
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Definition of "severance" - British English Dictionary

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severancenoun [U]

uk   /ˈsev.ər.əns/  us   /-ɚ-/
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.
(Definition of severance from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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