{"iri":"https://folio.openlegalstandard.org/RBNFgSc7x9V18auT1Br6qQB","label":"Severance Pay","sub_class_of":["https://folio.openlegalstandard.org/R8aNhIN6jIIVcj5Cbh8Bduw"],"parent_class_of":[],"is_defined_by":null,"see_also":["https://folio.openlegalstandard.org/RCy69ZSLkXNMIWCj0nv9qzO"],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{},"hidden_label":null,"definition":"Severance pay is a monetary compensation provided to employees upon termination of their employment, typically when they are laid off or made redundant. The amount and terms of severance pay can vary based on factors such as the duration of employment, contractual agreements, company policy, and legal regulations in the jurisdiction.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}