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English definition of “severance”


noun [U]     /ˈsevərəns/ HR, LAW
the official ending of an agreement , especially between an employer and employee : He is entitled to $40,000 in severance pay . The union negotiated 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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
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