severance

noun

1. the act of severing or the state of being severed.
2. a breaking off, as of a friendship.
3. Law. a division into parts, as of liabilities or provisions; removal of a part from the whole.
4. severance pay.

noun

1. the act of severing or state of being severed
2. a separation
3. law the division into separate parts of a joint estate, contract, etc

n.early 15c., from Anglo-French, from Old French sevrance “separation, parting,” from sevrer (see sever). Meaning “discharge from employment contract” is attested from 1941. Severance pay attested by 1942.