What Is Severance Pay? Definition and Why It's Offered

severance pay Unless a union contract, company policy manual, or employment contract specifically requires payment of a pre-set amount of severance pay to employees who quit

Any employer who closes or engages in a mass layoff at a covered establishment is liable to eligible employees of the covered establishment for severance pay at xpay88 Yes, an employee generally still receives severance even if they find a new job right after being laid off It is considered a part of the employee's