lay-off

(redirected from lay-offs)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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.

lay-off

the termination of an employee's employment with an organization due to reduced demand for the goods or services produced by the organization. Lay-offs may be temporary, in which case employees will be re-employed when demand increases again, or permanent.

See REDUNDANCY.

References in periodicals archive ?
Hyundai said it needed to lay-off workers to deal with falling domestic demand from the economic crisis and a slowdown in production.
Another way to avoid lay-offs is to check your network of contacts to see if you can share the services of one of your employees with another firm.
If lay-offs are necessary, managing, organizing and implementing them is critical to those involved, the remaining employees, and the future of the firm.
Look at how lay-offs might affect your ability to grow when your business is in a better position.
Immediately following the lay-off, remaining employees should be given an honest and complete explanation of why lay-offs were necessary and who was affected.
Lay-offs are never pleasant, but with the continuing rise in unemployment in Canada, they are, unfortunately, probable for a growing number of companies.
The men, who work alongside BNFL staff as well as other contractors, returned after being given assurances from their supervisor, who acted as a ``go between'' with their bosses, that there would be no Christmas lay-offs.
We walked out because we heard more lay-offs were on the cards.
In a bid to avoid immediate lay-offs, the men volunteered yesterday to cut their weekly working hours from an average of 45 hours to 39, as well as overtime.
Pilots with MEA held a one-day strike to protest the lay-offs on 3 May, which resulted in the carrier's 11 flights from Beirut airport being cancelled.
seniority will count in lay-off decisions, in a Texas store a