# severance payment

> English word · Noun

## Definitions
1. Money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver.

## Source
Compiled from Wiktionary via kaikki.org (CC BY-SA). Data vintage: 2026-05-06.
Canonical page: https://plainspell.com/en/word/severance-payment