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The phrase "a redundancy package" is correct and usable in written English.
It is typically used in the context of employment, referring to a financial compensation package offered to an employee who is laid off or made redundant.
Example: "After the company downsized, employees were offered a redundancy package to help them transition to new jobs."
Alternatives: "severance package" or "termination package".
Exact(28)
Whoever was unsuccessful would be offered a redundancy package.
Departing Engie employees will receive all their entitlements, including a redundancy package.
Unfortunately for the Oz another senior staffer took a redundancy package on Friday.
He had only been working with the company for seven months, but managed to negotiate a redundancy package of four months' salary.
Lyons says he never understood that Byford would be receiving a redundancy package beyond that which he could have received on the basis of his contract.
Over the coming weeks managers affected by the changes will either begin training for their new jobs or take a redundancy package, it said.
Similar(32)
It meant that staff who'd given quite a few years and were in a comfortable financial position could rake a nice redundancy package of £2,000 per year that they'd served in the prison service.
An NUJ statement said the plan, which included a voluntary redundancy package, was rejected by 102 votes to 99 in a ballot with an 80% turnout.
In one, a £397,000 redundancy package was brought to the attention of the prime minister by a Labour MP. "All bodies that receive taxpayers' money … must exercise restraint on setting senior pay or severance payments," was the message from Downing Street.
But it's the people who haven't been working there for a long time that are really worried – they won't even have a decent redundancy package to fall back on".
Independent journalists have accepted a reduced redundancy package in the hope that this will make the deal happen.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com