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Related to Workforce reduction: downsizing, laying off

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.


The allocation of unsold shares to syndicate members from a new issue rights offering by the managing underwriter.
References in periodicals archive ?
Excluding the non-cash impairment charges and workforce reduction charges in the fourth quarter of 2009 and 2008, total operating expenses were $94.
Excluding the after-tax non-cash impairment and workforce reduction charges, basic and diluted earnings per share of class A and B common stock from continuing operations were $0.
In 1993, nonoperating items totaled $63 million, or 56 cents per share, including an after-tax charge of $76 million, or 67 cents per share, for workforce reduction costs and selected asset write-downs.
Its points include: administrative workforce reduction, phase out of low-margin products, tighter control of travel costs and a decrease in external costs across the company.
Such statements, including the expected annualized savings from the Thomasville, Georgia facility consolidation and workforce reduction, and the improved profitability resulting from the Company's cost control initiatives, involve risks and uncertainties which cannot be predicted or quantified and which may cause future activities and results of operations to differ materially from those discussed above.
Although no specific workforce reduction plans have been announced, the threat of job cuts loom large, especially for employees with the companies being acquired," said Challenger.
NYSE: NYX) today announced a workforce reduction of more than 500 positions, including approximately 400 employees and 120 full-time consultants, from its NYSE, NYSE Arca and Securities Industry Automation Corporation (SIAC) business units.
Although the government's recent report regarding increased job growth offers some encouragement to job seekers, it is not a panacea to the workforce reduction problem.
The Company expects to take a second quarter charge of approximately $275,000 to $350,000 relating to the workforce reduction.
On 05/31/06, SUNW outlined a plan approved by its Board of Directors in which it will be lowering costs, accelerate profitability and, as a part of both, implementing a workforce reduction of up to 5,000 employees.
The major component of the charge is a company-wide workforce reduction of approximately 6,000 employees.

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