lay-off

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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.

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.
Perceived threat is the estimated likelihood of further lay-offs and possible job loss.
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.
The current lay-offs are additional to the temporary lay-offs agreed in December 2008 and in May 2009.
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.
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
It was also agreed that the need for lay-offs will be reviewed at quarter year intervals.
Under the agreement, strike action will be postponed for 72 hours and the airlines will freeze lay-offs over the same period, Reuters reported.
Since the October announcement of the latest round of lay-offs, Pacific Telesis stock has risen 16% in value.
NORDIC BUSINESS REPORT-24 August 2009-Finnish Outokumpu terminates temporary lay-offs in Tornio(C)1994-2009 M2 COMMUNICATIONS http://www.
NORDIC BUSINESS REPORT-22 April 2009-Larox Corporation agrees temporary lay-offs with employees in Finland(C)1994-2009 M2 COMMUNICATIONS LTD http://www.