Lay off


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Related to Lay off: Laid Off

Lay off

In the context of general equities, this eliminates all or part of a position by finding customers or other dealers to take the position.

Lay Off

To terminate employees because the company is not making sufficient profits to pay them or to sustainably keep them on staff. While a lay off could affect one employee, the term usually refers to a group of employees that are let go because of budget cuts, restructuring, or other, similar situations. If and when the company returns to its previous profitability, it may hire back those employees who were laid off. Often, the company offers a severance or other final compensation to laid off employees.
References in periodicals archive ?
Tisch told Secretary Evans that the airlines' plan to drastically reduce flights and lay off workers will have a ripple effect that is already being felt by all sectors of the travel industry.
The management's right to lay off workers should be protected by the law," said Mr Min.
If the written contract of employment allows for the possibility of a lay off without pay, then there will be no breach of contract.
The lay offs are in addition to 48,000 blue-collar workers who were temporarily laid off until the middle of January.
However the airline has now said that, having finalised its January schedule, it would not lay off as many flight attendants as originally planned.
Almost all companies go through a process of qualifying who to lay off because they want to minimize lawsuits," offers human resources consultant Ron Mason.
Sources said Kidder told employees last week it expects to lay off 41 percent of its approximately 5,000 workers.
National University administrators are concerned that lay off notices may discourage prospective teachers from enrolling in teacher education programs at a time when California faces specific teacher shortages, and will unfairly impact new teachers who committed several years and thousands of dollars to serve the educational needs of their communities.
Auto Business News-29 October 2008-Daimler Trucks plans to lay off 39 people at Freightliner plant at Gastonia(C)2008 ENPublishing - http://www.
Northwest Airlines plans to lay off more than 1,000 cabin crew over the next few months.
Facing millions of dollars in budget shortfalls, the Ventura County Community College District will close cafeterias at all three campuses and could lay off more than 100 part-time instructors, officials said Wednesday.
Lots of us have families and mortgages and any lay off is bad, but at this time it is critical.