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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 ?
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 job guarantees do not apply to temporary layoffs of up to 6 weeks, job reductions resulting from labor disputes, sale of part of the company's operations as an ongoing operation, a complete plant closing, or job cuts resulting from events beyond the company's control.
Many of the Montana Tunnels staff have been placed on a temporary layoff status pending the completion of the review.
PotashCorp has given temporary layoff notices to the workers at its Rocanville and Lanigan mines.
and the Independent Steelworkers Union (ISU) today announced they have reached an agreement for the temporary layoff of 250 hourly and salaried non-exempt represented employees.
He pointed out that last year's power outage affected automotive manufacturers and suppliers throughout the United States and Canada and resulted in an estimated production loss of 35,000 vehicles, the temporary layoff of more than 100,000 workers and more than $1 billion in lost wages and production.
the form of a temporary layoff of certain staff in order to
A temporary layoff of manpower may be required during the repair period.
OTCBB:SYMY) today announced the restructuring of the company with a three month temporary layoff of 30 of its employees in London, Brampton, and Montreal in Canada.
During the next three weeks, Delphi officials will notify more than 1,700 hourly employees at Michigan, New York and Ohio facilities they will be placed on temporary layoff in response to reduced customer schedules.
The extended shutdown at Key Lake will result in the temporary layoff of about 200 out of 300 employees.
If the legislature does not pass a budget by June 30, the DOC has estimated that up to 50 percent of correctional employees, 2,800 staff, could be subject to temporary layoffs.

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