In September, he will get a severance of 16 weeks' pay from the company, which he said, “should last me until the New Year.”
Is this a stealthy way to lay people off without incurring the expense of severance packages?
Thirteen months ago, she left Merrill with a severance package reportedly worth $6 million.
early 15c., from Anglo-French, from Old French sevrance "separation, parting," from sevrer (see sever). Meaning "discharge from employment contract" is attested from 1941. Severance pay attested by 1942.