severance
//ˈsɛv.ər.əns//
Noun
severanceSingular
severancesPlural
1
The act of ending a connection or relationship, especially an employment relationship.
After ten years at the company, she received a generous severance package.
2
Money paid to an employee when their employment is terminated, typically as compensation.
After being laid off, she received a generous severance package.
3
The state of being separated or divided from something.
The severance of the island from the mainland made communication difficult.