golden handshake


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Related to golden handshake: Flexi time

golden handshake

A large severance package given to an executive who leaves a company due to termination, corporate restructuring, or retirement. The company's vice president received a $500,000 golden handshake after being pressured to leave his position.
See also: golden, handshake

golden handshake

Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers . This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.
See also: golden, handshake

a golden handshake

1. A golden handshake is a large amount of money that someone is given if they are asked to leave a job before the normal age when they would leave. She offered me a golden handshake to get me to leave quietly, which I did.
2. A golden handshake is a large amount of money that a company gives to an employee when he or she leaves, as a reward for long service or good work. The officer retired with a golden handshake and a pension.
See also: golden, handshake

a golden handshake

a sum of money paid by an employer to a retiring or redundant employee.
On the same principle, the phrase a golden hello was coined in the late 20th century. It is explained in an Appointments section of the New Scientist in 1998 : ‘Employers…especially in the financial sector, are offering “golden hellos”. These are advances of up to £2000, sometimes given on acceptance of a job offer or with the first month's salary.’
See also: golden, handshake

a golden ˈhandshake

a large sum of money given to somebody when they leave their job, or to persuade them to leave their job: The directors will each get a large golden handshake and a pension.
See also: golden, handshake
References in periodicals archive ?
Labour Research said its survey of firms' annual reports found 75 golden handshakes of pounds 100,000 or more, with some companies making more than one large pay-off in the year.
Those same city and county officials gave Cluff a $300,000 golden handshake to get him out of the way, and he chose his own destiny.
The disclosure will spark an outcry, given that the department was able to claw back Brown's pounds 60,000 golden handshake.
JOE ROYLE has failed in a secret out-of-court bid to settle his pounds 750,000 golden handshake lawsuit against Manchester City following his sacking in May 2001.
While considering secession, which I feel neither way about, I thought you might remember that city officials are preparing to take a golden handshake ``retirement,'' and then will resurface as the Valley's consultants and employees.
Sven should be paid off with a golden handshake and a positive reference (just to get rid of him).
SIR - Is it true that the Assembly is planning to give old Labour councillors a golden handshake of pounds 10,000, in the attempt to bring in younger councillors?
But Collymore says he wants a pounds 1million golden handshake first.
5million golden handshake from Chelsea before joining Liverpool.
The deadline was set last night, hours after it was revealed that six executives could walk out of their top jobs with a combined golden handshake of pounds 1million.
We don't yet know the exact extent of Romer's largess to Chief Operating Officer Allen Solomon because district officials rolled over on a confidentiality clause, but sources put the golden handshake in the range of Solomon's $195,000 salary.
Their hands were up in the air voting for a pounds 10,000 annual tax-free golden handshake.
ANDY COLE has been given a pounds 1million golden handshake to make up for the misery of quitting Man United in a pounds 7.
Union leaders yesterday called for an investigation "at the highest level" after it emerged that the former head of a debt-ridden college was given a pounds 169,000 golden handshake.
A DAA spokesman said Mr Collier, whose total earnings for last year reached EUR612,500, will not be given a golden handshake.