redundancy payment


redundancy payment
redundancy payment noun
A minimum statutory payment to be made to an employee who is made redundant, its amount based on age, pay, and length of service
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Main Entry:redundant

Useful english dictionary. 2012.

Look at other dictionaries:

  • redundancy payment — UK US noun [C] (also redundancy pay [U]) ► HR money that a company pays to workers who have lost their jobs because they are no longer needed: eligible for/entitled to a redundancy payment »An employee becomes eligible for a redundancy payment… …   Financial and business terms

  • redundancy payment — payment made to a worker to compensate him for being released from his job …   English contemporary dictionary

  • redundancy payment — /rɪ dʌndənsi ˌpeɪmənt/ noun a payment made to a worker to compensate for losing his or her job …   Dictionary of banking and finance

  • statutory redundancy payment — A statutory payment due to any employee with two years continuous employment who is made redundant. The amount of a statutory redundancy payment is calculated in the same way as the basic award, according to a formula based on the employee s age …   Law dictionary

  • redundancy — I noun duplication, excess, excessiveness, immoderation, inordinacy, inordinate amount, needlessness, nimiety, overplus, oversupply, pleonasm, recurrence, redundance, redundantia, reiteration, repetition, restatement, retelling, superabundance,… …   Law dictionary

  • payment — The amount required to repay a loan, including interest and fees. Bloomberg Financial Dictionary * * * payment pay‧ment [ˈpeɪmənt] noun 1. [countable, uncountable] FINANCE an amount of money that must be or has been paid, or the act of paying it …   Financial and business terms

  • redundancy — re|dun|dan|cy S2 [rıˈdʌndənsi] n plural redundancies 1.) [U and C] BrE a situation in which someone has to leave their job, because they are no longer needed = ↑layoff ▪ The closure of the export department resulted in over 100 redundancies. ▪… …   Dictionary of contemporary English

  • redundancy — 1) The loss of a job by an employee because the job has ceased to exist or because there is no longer work available. It involves dismissal by the employer, with or without notice, for any reason other than a breach of the contract of employment… …   Big dictionary of business and management

  • redundancy — re‧dun‧dan‧cy [rɪˈdʌndənsi] noun redundancies PLURALFORM [countable, uncountable] especially BrE HUMAN RESOURCES when someone loses their job in a company because the job is no longer needed: • Over 2000 car workers now face redundancy. • Sev …   Financial and business terms

  • payment — n. 1) to make (a) payment 2) to stop payment (of, on a check) 3) to suspend payments 4) a cash; down ( initial ); redundancy (BE; AE has severance pay); token payment 5) (a) payment for, on 6) in full payment (of a bill) * * * [ peɪmənt] on token …   Combinatory dictionary