Definition, Meaning & Synonyms
golden-handshake
noun
/ˈɡoʊldən ˈhændʃeɪk/
Definition
A golden handshake is a financial arrangement where an employer provides a significant sum of money or benefits to an employee upon their departure from the company, typically because of layoffs or corporate restructuring.
Examples
- After several years with the company, she received a generous golden handshake when she retired.
- The CEO negotiated a golden handshake that included severance pay and stock options.
Meaning
It often serves as an incentive for the employee to leave voluntarily or as compensation for losing their job.
Synonyms
- severance package
- exit compensation
- retirement bonus
