The difference between Severance and Severance payment
When used as nouns, severance means the act of severing or the state of being severed, 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 and Severance payment
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Severance as a noun:
The act of severing or the state of being severed.
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Severance as a noun:
A separation.
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Severance as a noun:
A severance payment.
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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.