The difference between Severance pay and Severance payment
When used as nouns, severance pay means money paid as compensation to someone whose employment is ended, often in exchange of waiver, whereas severance payment means money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver.
check bellow for the other definitions of Severance pay and Severance payment
-
Severance pay as a noun:
Money paid as compensation to someone whose employment is ended, often in exchange of waiver.
-
Severance payment as a noun:
Money that an employer pays to an employee when the employee leaves the company in case of layoffs, often in exchange for some kind of waiver.