Julie has just been laid off from her job,and her company has agreed to pay her $15,000 for each year she was with the company.This is an example of __________.

Question

Quizplus · Accepted Answer

The payment that Julie is receiving is severance pay, which is a form of compensation provided to employees who are laid off or terminated without cause. It is separate from incentive pay, which is designed to reward employees for achieving specific goals or targets, and base pay, which is the fixed salary or hourly wage that employees earn for their regular work. Severance pay is also not part of total rewards, which refers to the total package of compensation and benefits that employees receive, including base pay, incentives, benefits, and other perks.

Julie Has Just Been Laid Off from Her Job,and Her