Nicholas works for a marketing firm, which is looking to cut staff due to financial hardships. Since Nicholas is nearing 70 years old, the company decides to encourage him to retire by offering him various financial incentives. This worker buyout is also known as a(n)________.
A)bonus
B)golden parachute
C)incentive-payment structure
D)commission

Question

Quizplus · Accepted Answer

The given scenario describes a golden parachute, which is a financial incentive offered to highly paid executives or key employees to encourage them to retire or leave the company voluntarily during a difficult financial period. A bonus, commission, or incentive-payment structure is a different type of financial compensation, which does not necessarily entail encouraging an employee to retire.

Nicholas Works for a Marketing Firm, Which Is Looking to Cut