Which option best defines a voluntary reduction in workforce?

A voluntary reduction in workforce refers to a situation where employees choose to leave their positions, often in response to an organization's initiative to decrease staff levels for reasons such as cost-saving measures or organizational restructuring. This approach is typically framed in a way that encourages employees to resign voluntarily, often with the incentive of severance pay and benefits to ease their transition.

The correct answer describes this concept accurately, as it highlights the provision of severance pay and benefits to those who decide to leave. Such incentives can make the decision less daunting for employees and benefit the organization by allowing for a more controlled reduction in workforce without resorting to forced layoffs.

The other options represent different concepts within workforce reductions. Layoffs across the organization suggest a non-voluntary approach where employees are let go without their consent, which does not align with the idea of a voluntary reduction. Resignations without severance benefits also lean toward a non-incentivized exit route, which misses the supportive nature of a voluntary reduction strategy. Finally, forced terminations without pay clearly indicate a compulsory removal of employees, which stands in stark contrast to the voluntary nature required for a true voluntary reduction in workforce.