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What does outplacement mean?

Looking for the meaning or definition of the word outplacement? Here's what it means.

Noun
  1. the process of helping to find new employment for redundant workers, especially executives
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Examples
Workers who lose their jobs will receive a severance package and outplacement services, the firm added.
For instance, many downsizing employers invest in outplacement services, helping laid-off workers to find new jobs or to acquire new skills.
For many, the most valuable items will be the cash severance and outplacement services.
Even in a buoyant jobs market departing employees will view outplacement counselling as an opportunity to enhance their employability.
Demonstrate more than lip service to fair treatment by offering outplacement and other support services.
After all, we've been to any number of pink-slip parties hosted by cheeky outplacement firms trolling for clients.

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