Lay off


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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 ?
What if an employee's contract of employment does not allow or make any mention of lay offs? A.
Tisch told Secretary Evans that the airlines' plan to drastically reduce flights and lay off workers will have a ripple effect that is already being felt by all sectors of the travel industry.
"The management's right to lay off workers should be protected by the law," said Mr Min.
Between 1987 and 1991, a variety of smaller firms announced plans to lay off approximately one million employees in an attempt to eliminate hierarchical layers within their respective organizations and to try to streamline their operations.
For example, if you hire three third-year engineering students from the same co-op program every term for several years and then suddenly lay off the current crop, there is likely to be a high cost in replacing this source of skilled staff in future.
If a factory was closing and he needed to lay off a certain percentage of the entire staff, the finance organization should take a leadership role and eliminate a similar percentage of employees.
Global Banking News-June 24, 2016--Goldman to lay off staff in New York
Auto Business News-February 16, 2016--Daimler to lay off more than 1,200 workers at North Carolina assembly plants
NORDIC BUSINESS REPORT-22 June 2010-Finnish Elektrobit to lay off up to 100 domestic employees(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
Reports also said that other media institutions such as the Lebanese television stations MTV and LBC also had plans to lay off a significant number of employees.
Melbourne, Mar 4 (ANI): While recession-hit companies are increasingly issuing pink slips to their employees, a recent survey has detailed a list of dos and don'ts on how to lay off workers.
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.