separationsep·a·ra·tion /ˌsepəˈreɪʃən/ noun [countableC, uncountableU] American EnglishAmEHUMAN RESOURCES the act of leaving your job, because you have been dismissed or have RESIGNEDThe job reductions will be met through layoffs andvoluntary separations (=when people leave their jobs willingly rather than being dismissed).
Other employees are being offered separation packages providing three months’ to one year’s pay.