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Severance pay was instituted to help protect the newly unemployed. Sometimes, they may be offered for those who either resign, regardless of the circumstances, or are fired. Policies for severance packages are often found in a company's employee handbook.
While the main formal term for ending someone's employment is "dismissal", there are a number of colloquial or euphemistic expressions for the same action. "Firing" is a common colloquial term in the English language (particularly used in the U.S. and Canada), which may have originated in the 1910s at the National Cash Register Company. [2]
Resignation is the formal act of relinquishing or vacating one's office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the expiration of a term, or choosing not to seek an additional term, is not considered resignation.
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time.
Instrument of abdication signed by Edward VIII and his three brothers, Albert, Henry and George, 10 December 1936. In early December 1936, a constitutional crisis in the British Empire arose when King Edward VIII proposed to marry Wallis Simpson, an American socialite who was divorced from her first husband and was in the process of divorcing her second.