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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.


The allocation of unsold shares to syndicate members from a new issue rights offering by the managing underwriter.
References in periodicals archive ?
Note also that as mentioned above, the hiring flow of those on temporary layoff does not exactly correspond to recalls and new hires, respectively.
As shown, repeat use rates for recipients on temporary layoff were substantial in all seven states, ranging from 44 percent in Oregon to 56 percent in Pennsylvania and Iowa.
The Effect of Unemployment Insurance on Temporary Layoff Unemployment," American Economic Review, 68: 834-846.
In each of the reason-for-unemployment groups the belief that one is ineligible accounted for at least 50 percent of nonapplicants except for job losers on temporary layoff (column 3), 33.
Unemployed persons by reason and duration of unemployment, quarterly averages, seasonally adjusted, 2006-07 [In thousands] 2007 Reason and duration Quarter IV, 2006 Quarter I Reason for unemployment Job losers and persons who completed temporary jobs 3,182 3,363 On temporary layoff 966 966 Not on temporary layoff 2,217 2,397 Job leavers 794 785 Reentrants 2,226 2,123 New entrants 587 598 Percent distribution Job losers and persons who completed temporary jobs 46.
Employers in areas where job opportunities are better should be more hesitant to engage in temporary layoffs, since workers awaiting recall can more easily find alternative employment.
The automaker will place 5,000 employees at the facility on a temporary layoff scheme on December 17 and from December 21 until January 13.
Potential and extended private nonfarm mass layoff activity in Louisiana and Mississippi not related to Hurricane Katrina, September-December 2005 Measure Layoff events Total, private nonfarm potential events 868 Extended mass layoff events, hurricane related 358 Extended mass layoff events, but not hurricane related 26 Total excluded events 484 Not a layoff 367 Employees did not return 174 Employers continued paying employees 108 Other 85 Temporary layoff 107 Permanent, but less than 50 workers laid off 10 Table 3.
The recessions of the 1970s and 1980s had a feature that the 1990-91 and 2001 episodes lacked: a spike in the percentage of labor force participants on temporary layoff.
About 60 per cent of the workforce at the 55-yearold plant, were affected by the temporary layoff.
In recent months, Miller combated this lower demand by eliminating overtime and flex staffing, as well as offering the company's popular voluntary temporary layoff program to interested personnel.
Reuters has reported that the employees at the facility will be on temporary layoff.

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