The difference between Severance and Severance pay
When used as nouns, severance means the act of severing or the state of being severed, whereas severance pay means money paid as compensation to someone whose employment is ended, often in exchange of waiver.
check bellow for the other definitions of Severance and Severance pay
-
Severance as a noun:
The act of severing or the state of being severed.
-
Severance as a noun:
A separation.
-
Severance as a noun:
A severance payment.
-
Severance pay as a noun:
Money paid as compensation to someone whose employment is ended, often in exchange of waiver.