Dismissal wages are a type of payment that an employer is required to pay to an employee who has been terminated from their job. There are several synonyms for dismissal wages, including severance pay, termination pay, and redundancy pay. Severance pay is a sum of money that is given to an employee who is being laid off due to reasons beyond their control, such as the closure of a business. Termination pay is a type of compensation that is paid to an employee who has been terminated for reasons other than redundancy. Finally, redundancy pay is a payment that employers are required to make to employees who have been made redundant due to company restructuring or job elimination.