A payment to a worker upon permanent separation from an employer is called __________ pay.

Name: A payment to a worker upon permanent separation from an employer is called __________ pay.
Brand: Quizplus
Rating: 4.7 (49 reviews)

Question

Quizplus · Accepted Answer

Severance pay is a payment made to an employee who is permanently separated from their employer. It is usually given as a result of a layoff, downsizing, or restructuring. Severance pay is intended to help ease the financial burden of job loss and to compensate the employee for their years of service.

A Payment to a Worker Upon Permanent Separation from an Employer