Your choice was right!
Definition:
b) compensation after losing a job
German translation:
severance package = die Abfindung
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GOOGLE INDEX
severance package: approximately 650,000 Google hits
Sample text:
Three more first-team players accept SEVERANCE PACKAGES as the club look to manage their financial problems.
(BBC News)
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Countrywide Financial boss gives up $37.5m SEVERANCE PACKAGE
(BusinessWeek magazine - News Headline)
Did you know?
severance package
noun phrase
- money paid by an employer to an employee whose job the employer has had to bring to an end
(Cambridge Advanced Learner's Dictionary)
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A severance package is pay and benefits an employee receives when they leave a company, either voluntarily or as part of a lay-off process. In addition to the employee's remaining regular pay, it may include additional pay based on length of service, unused vacation time, health care benefits and stock options.
Companies sometimes give out large severance packages in the tens and hundreds of millions to high-profile executives. Such payments frequently become news headlines. Whether these large sums are justified is a matter of opinion. Still, the amounts can seem staggering to the average worker.
As overheard in a bar one evening:
"I get up every day and look at the Forbes list of the richest people in the world. If I don't find my name on it, I get dressed and go to work."
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SYNONYMS
buy-out package, buy-out incentive, early retirement package, golden handshake
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SMUGGLE OWAD into today's conversation
"If the company offers me a generous severance package, I'm going to take it."
And now...
Today's Learning Tip (14):
MAKE AN ICON
Draw a personal symbol or icon to represent each new word. For instance draw a cloud to represent the word "rainmaker". Put this symbol on a Post-It note and say the word whenever you see the symbol.
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