Redundancy Payment
/ˌrɛdʌnˈdænsi ˈpeɪmənt/
Definitions
- (n.) A financial compensation awarded to an employee dismissed due to redundancy, i.e., the position becoming surplus to the employer's requirements.
The employee received a redundancy payment after his job was eliminated.
Forms
- redundancy payment
- redundancy payments
Related terms
See also
Commentary
Redundancy payments are typically governed by statutory frameworks or employment contracts and vary by jurisdiction, reflecting the legal protection afforded to employees facing involuntary job loss.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.