Lump sum payout

Posted by Brian from Shawnee on October 13, 2006

In Reply to: Lump sum payout posted by Tania on October 13, 2006

: What is the saying or words used when you offer people a lump sum of money as a payout in order to reduce the total remuneration of an employee?

Maybe "golden parachute", "early retirement", or even "contract buyout". Golden parachute is the jazziest way of saying it, but it usually applies to top executives and the payouts are huge compared to the early retirement packages that might be offered to line employees.