severance costs

Definitions (2)

1. The total amount of money spent on severance pay for employees who had their contracts terminated.
2. The estimated amount of money that a company projects it will spend on severance pay based on their severance plan.

Use severance costs in a sentence

The severance costs were minimum as the employees had only been working at the company for less than two years.

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People were leaving the company left and right, and Deborah was starting to miss people, while Ernie was more concerned with the severance costs piling off.

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If ending an employee's employment before the scheduled time, that employee many be entitled to severance costs in order to make up the money lost from becoming unemployed.

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