Question

Nicholas works for a marketing firm, which is looking to cut staff due to financial hardships. Since Nicholas is nearing 70 years old, the company decides to encourage him to retire by offering him various financial incentives. This worker buyout is also known as a(n) ________.

Answer 1

Answer: Golden parachute

Explanation: Golden parachute is the type of agreement that states about the specific benefit such as bonus,incentives ,options for stock etc that will be provided if the employment will be brought to the end.This agreement is usually done between senior employee and the organization.

According to the mentioned situation, Nicholas is being offered with golden parachute agreement .The company is asking him to terminate his employment by offering financial benefits as they are cutting-off the staff employees due to issues