What is a severance package, and how can it benefit you?

severance pay  Severance pay is any compensation that your employer gives you when your employment there ends, beyond what you're owed in remaining paychecks or unused time Basic severance allowance equals One week's pay for each year of service up to and including 10 years, plus two weeks pay (use most

Basic severance allowance equals One week's pay for each year of service up to and including 10 years, plus two weeks pay (use most In the event that these conditions are met, the employee is entitled to an “automatic” severance payment This entitlement is calculated at half a month's

The generosity or level of severance pay depends on the nature of the dismissal Severance pay is not provided It is a form of financial assistance provided to employees as they transition out of the company Severance pay is typically offered to