There are multiple definitions - click on the translation that matches your context.

Regelabfindung

Substantiv

partial

severance pay

noun

Comparative law notes

Germany

This American phrase has largely the same meaning as the more British "redundancy payment".

Definitions of severance pay

English

money paid to employees when they have to leave work because they are no longer needed or wanted

Bank of America offered to extend loans to pay severance pay and holiday pay to workers conducting a sit-in at an Illinois factory.