Lay off

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Related to Lay Offs: downsizing

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 ?

"The management's right to lay off workers should be protected by the law," said Mr Min.

Strikers face eviction as Hyundai battle goes on

A genuine lay off is not a redundancy and an employee who has been laid off by his/her employer is still employed by that employer.

If the contract of employment does not allow for a lay off without pay and there is no custom and practice of this happening, what options does an employee who is laid off have?

Employment issues

Volvo to lay off 600 workers at Virginia's New River Valley plant

According to certain reports, the lay offs have come at the same time as discussions between the United States-based automaker and Shanghai Automotive Industry Corporation (SAIC) who may acquire the Volvo brand.

Volvo Car to lay off 2,721 employees

The lay offs will affect the firm's plant in Ghent, Belgium and two Swedish plants in Gothenburg and Umea.