BizSugar.com › Management › How to Negotiate a Severance Pay Package: 15 Best Tips - #WiseStep

The severance pay or packages are the group of benefits provided to the employees who are terminated or laid off after a period of time. The benefits given to them may include the additional salary, health insurance schemes, or many other incentives.

The typical severance package depends on many factors like the company’s financial position, the post-employee behaviour, the past employee attitude and so on.