SEVERANCE English meaning

severance pay  Where does the noun severance pay come from? The earliest known use of the noun severance pay is in the 1950s OED's earliest evidence for severance pay is Navigate the complexities of severance pay with expert guidance Ensure fair compensation and understand your rights during job transition

Service pay is payable upon the termination of a contract of service The law does not specify the terms of service pay therefore this In the event that these conditions are met, the employee is entitled to an “automatic” severance payment This entitlement is calculated at half a month's

The special severance pay is paid at the employee's current wage and is equivalent to 15 days' pay for every year of employment The total According to the Department of Labor , the Fair Labor Standards Act does not require employers to provide severance pay to employees