Redundancy pay is money given when a job is no longer needed. Statutory redundancy pay, negotiate the redundancy pay.
It is calculated from age, wage and years served, and there is a legal minimum in Britain. Redundancy pay is owed when the job goes rather than when the person does, which is the whole distinction.
1nounredundancy payMoney given when a job is no longer needed.
“The redundancy pay covered six months while he looked for work.”
redundancy pay is a payment.
Practised in Work & Careers