Worker Buyout

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Worker Buyout

A situation in which an employer pays a (usually large) fee to an employee in exchange for that employee's resignation or retirement. Despite the upfront payout, a worker buyout usually is less expensive over the long term than keeping the employee on staff. As such, worker buyouts are sometimes used in lieu of layoffs.
References in periodicals archive ?
WORKER buy-outs in Wales are to get support from the Business Succession and Consortia project being delivered by the Wales Co-operative Centre.