Severance Pay Laws: Does It Make Sense to Offer

severance pay  Where does the noun severance pay come from? The earliest known use of the noun severance pay is in the 1950s OED's earliest evidence for severance pay is Severance pay is compensation given to an employee who is laid off, whose job has been eliminated, or who has otherwise parted ways with a company

Employees are free to use severance pay for anything they want Often it's used to cover a gap in employment, but depending on your financial SEVERANCE definition: 1 money paid by an employer to an employee whose job the employer has had to bring to an end: 2… Learn more

Severance pay is compensation given to an employee who is laid off, whose job has been eliminated, or who has otherwise parted ways with a company  Service pay is payable upon the termination of a contract of service The law does not specify the terms of service pay therefore this