lay-off


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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.

lay-off

the termination of an employee's employment with an organization due to reduced demand for the goods or services produced by the organization. Lay-offs may be temporary, in which case employees will be re-employed when demand increases again, or permanent.

See REDUNDANCY.

References in periodicals archive ?
If lay-offs are necessary, methods can be used to minimize the negative impact.
Previously unattractive business propositions may merit another look, which is not to say lay-offs should be avoided at all costs.
Another way to avoid lay-offs is to check your network of contacts to see if you can share the services of one of your employees with another firm.
No Halewood staff are expected to lose their jobs during the lay-offs.
The men, who work alongside BNFL staff as well as other contractors, returned after being given assurances from their supervisor, who acted as a ``go between'' with their bosses, that there would be no Christmas lay-offs.
We walked out because we heard more lay-offs were on the cards.
In a bid to avoid immediate lay-offs, the men volunteered yesterday to cut their weekly working hours from an average of 45 hours to 39, as well as overtime.
Several media watchdogs condemned the phenomenon, saying the lay-offs were unjust and did not respect the rights of the employees.
It said its legal advice line saw a 155% increase in calls on redundancies and a 656% jump on lay-offs from January to June this year compared to 2008 as small businesses cut back costs and sought advice on employment issues.
But as the rate of decline in the economy slowed during quarter two, there was a comparatively small number of inquiries to the legal advice line - lay-offs increased by 30% and redundancies 88%.
If lay-offs were inevitable it is vital to follow proper procedures in order to avoid tribunal claims.
The step follows other lay-offs in recent months aimed at reducing car production due to falling demand.