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severance pay
noun as in payout to fired or laid-off worker
Example Sentences
In August, Mr Musk and X agreed to settle a separate lawsuit filed by roughly 6,000 former rank-and-file Twitter employees who argued they were owed $500m in severance pay.
But Twitter only gave sacked workers at most one month of severance pay, while some did not receive anything, according to the lawsuit.
Former workers posted on social media that they were given 10 weeks of severance pay.
Department of Labor states there is no requirement for employers to offer severance pay.
If you do get severance pay, be aware that the amount you receive is taxable.
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From Roget's 21st Century Thesaurus, Third Edition Copyright © 2013 by the Philip Lief Group.
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