severance Hear it!

severance Definition

sev·er·ance (sev′ər əns, sev′rəns)

noun

a severing or being severed

Etymology: ME < Anglo-Fr < OFr sevrance

severance Synonyms

severance

n.

section, split, separation; see division 1, 2.

severance Finance Definition
A payment made by a corporation to an employee who has been laid off. A typical severance package is 2 weeks of pay for each year a person has worked at the company, although severance packages vary substantially from company to company. Severance payments usually are voluntary payments and are not required by law. Some exceptions occur if a union contract guarantees a certain amount of severance or if other requirements are spelled out in a contract. Severance payments may be made in a lump sum or may be paid out in the regular payroll process.
severance Law Definition

n

  1. A severing or cutting off; in criminal law the process of bringing a particular charge out of many so that only one issue, or a few closely related ones, is before the jury at a time, while reserving the right to bring other charges later; the separating of the claims of two or more parties for any of a number of reasons; the ending of a joint tenancy.
  2. The removal of something attached to real property, such as crops or minerals, so that it becomes personal property instead of a part of the land.
severance Usage Examples

Preposition: of

  • tenancy: Since 1925 severance of a joint tenancy of a legal estate is impossible.
  • right: Prevents severance of common rights from the land to which they are attached.
  • community: High traffic speeds along a particular road can lead to severance of a local community.
  • ty: Doubts and tensions between the two sides further exacerbated after US President Carter announced the severance of ties with Taiwan in 1978.
  • relationship: Lack of compliance should be discussed fully with suppliers or contractors and failure to improve should result in the severance of the relationship.

Converse of object

  • reduce: This greatly increases the cycle network effectiveness and reduces the community severance caused by these roads.
  • cause: But speed also adds to a feeling of more general road danger, deterring many from cycling and walking and causing severance within communities.
  • assess: The methodology in GOMMMS ( Volume 2 Section 7.4 ) should be used for assessing severance.
  • exist: Estimating the numbers potentially affected is likely to be of particular relevance where existing severance is severe.

Adjective modifier

  • voluntary: Her employment terminated on 31 October 1996, due to voluntary severance.
  • complete: The complete organizational severance of this element from the workers ' parties has become imperative.
  • permanent: Loss of Limbs The Permanent physical severance of two or more limbs from above the wrist or ankle joint.
  • physical: Loss of Limbs The Permanent physical severance of two or more limbs from above the wrist or ankle joint.

Modifies a noun

  • payment: Part of my severance payment will be three months ' pay in lieu of notice.
  • package: Negotiations about severance packages should be informed, on both sides, by legal advice.
  • pay: In October 2003, the CBI produced its own guidance for directors on severance pay.
  • arrangement: The severance arrangements with the former chairman of Shell, Sir Phillips Watts have also been agreed.
  • agreement: Barry v Midland Bank plc [ 1998 ] IRLR 138 Contractual early severance agreement.
  • term: Prior to its coming into existence there was no scheme in this University providing for severance terms.

Noun used with modifier

  • community: Whether the effects of community severance decay over time?
severance Quotes

A God, a God their severance ruled! And bade betwixt their shores to be The unplumbed, salt, estranging sea.

—Arnold, Matthew