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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
In a statement on Saturday, a spokesman of the national flag carrier said media reports regarding laying off of 30% PIA employees as a result of closing down of airline's town offices were totally baseless.
Booz Allen Hamilton carried out meetings with the employees and issued a report recommending laying off of 80 out of 330 employees, considering them a surplus at the paper.
The Post is offering a new round of buyouts to newsroom, production and circulation employees, and said it could not rule out laying off staff.
As a result of the negotiations Ruukki Metals is laying off 340 employees at its operations in Jarvenpaa, Raahe, Seinajoki and Uusikaupunki in Finland.
An employer must have contractual authority to withhold remuneration in the event of no work or a reduced demand for work - or laying off an employee or putting them on short-time work is likely to amount to fundamental breach of contract.
GOOD AND BAD: Ford is investing in its Bridgend factory but also laying off 800 workers.
Shame on Ford and GM for putting all their eggs in the SUV basket and then laying off thousands.