severance packages

A severance package is a bundle of benefits offered to an employee when their job is terminated, usually due to layoffs or company restructuring. It often includes monetary compensation, continuation of health benefits, and assistance with job placement. The package aims to support the employee during their transition and may vary based on factors like tenure and company policy. Generally, receiving a severance package signifies a mutual agreement between the employer and employee regarding the termination, helping to ease the financial burden of unemployment.