layoff


Also found in: Dictionary, Thesaurus, Legal, Idioms, Encyclopedia, Wikipedia.

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.

layoff

The allocation of unsold shares to syndicate members from a new issue rights offering by the managing underwriter.
References in periodicals archive ?
The researchers decided to study layoffs because unlike other strategic moves -- a merger, say, or a spinoff -- it is an action that CEOs can decide on their own without board or regulatory approval.
Frank Gillett, an analyst at Forrester, said he didn't think that the reorganization would result in 25,000 layoffs.
Driving these changes is a belief that seniority-based layoff policies may have negative consequences for student achievement.
Employees who received the layoff notices represent one-fourth of the city's 28-person work force.
"The layoffs are taking place in stages to allow time for systems, processes and tools to be in place to ensure smooth business operation," he explained.
The new rules state that all certified employees will be laid off in reverse order of continuous service in the same class, option, and approved layoff unit.
While some research has demonstrated that the magnitude of the layoff event is virtually irrelevant (Trevor & Nyberg, 2008), others have shown no effect when smaller reductions are compared to larger reductions of more than 10 percent of the workforce (De Meuse et al., 2004).
Before the layoffs, eCopy had about 220 employees between two offices along Spit Brook Road in south Nashua, meaning the layoff could have affected close to 75 people.
As Dambeck's experience has shown, it is not uncommon for terminated employees to assert claims of discrimination alleging that they were selected for a layoff due to their race, gender, age, disability, or some other protected status, while others may claim that they were laid off in retaliation for complaining about wrongful conduct.
As a result, selectmen this week decided to notify the Highway Department (which includes water and sewer), fire, police and dispatch of the possibility of a layoff, which would help the town cut the deficit.
We report here the results of one of the few systematic studies to examine the impact on managers of implementing mass layoffs. Using data collected as part of a ten-year (1996-2006) longitudinal research project that examined the effects of restructuring on managers and workers at a large manufacturing organization, we compared the attitudes and well-being of managers who either had or had not been directly involved in layoff activities during those years.