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"voluntary redundancy" is correct and can be used in written English.
You can use it to describe a situation in which someone decides to leave their job and receive financial compensation in return. For example, "The company offered voluntary redundancy to anyone who wanted to take it."
Exact(60)
Most will go after accepting voluntary redundancy packages; fewer than 10 are being made compulsorily redundant.
The offer of voluntary redundancy closes in mid-September.
The remaining journalists are expected to take voluntary redundancy.
Senior staff have already been sounded out about voluntary redundancy.
About 130 staff are understood to have taken voluntary redundancy.
Tesco began offering head office staff voluntary redundancy last week.
Some 1,300 took voluntary redundancy at the time.
He demanded that 220 workers take voluntary redundancy.
Staff will initially be offered voluntary redundancy, but Alcatel said compulsory redundancies were also expected.
Carmaker Ford plans "hundreds" of job cuts across the UK and Europe through voluntary redundancy.
More than 1,000 staff had expressed an interest in voluntary redundancy, he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com