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Layoff |
Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
Layoff The act of a company firing workers regardless of their work performance. Layoffs occur when a company is having significant financial problems and can no longer afford to pay its workers. Because this can be both personally difficult and damaging to the company's reputation, companies usually engage in layoffs when there is no other alternative to cost cutting. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Amidst all the doom and gloom predictions of big layoffs sweeping through the Southern California economy following Boeing's announcement, the impact on the more than 600 local suppliers for the C-17 appears at first blush to be fairly minimal. This spring, his first book, The Disposable American, appeared, expanding on his series, describing how massive layoffs hurt individual workers, their families, their companies and their communities. According to an Associated Press report, the Independent Steelworkers Union has received official notification from Mittal Steel of the layoffs of approximately 800 workers, another step in the company's plan to permanently shut down the Weirton facility. |
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