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 ?
Company spokesman Mr Min Kyung-hwan said management would not back away from its plan to lay off redundant workers.
The management's right to lay off workers should be protected by the law," said Mr Min.
If the contract does not allow for lay offs without pay, then the options an employee has in this situation are:
Fiat Group SpA (Fiat) (NYSE: FIA) (ISE: IT0001976403), an Italy-based automaker, is planning to lay off white-collar workers.
So I would recommend that companies review their benefit and compensation policies for disability, unpaid leaves, severance and lay offs to make sure they provide what their employees need, and equally importantly, what the companies can afford.