layoff

play

noun lay·off \ ˈlā-ˌȯf \

Updated on: 26 Jul 2017

Definition of layoff

1 :a period of inactivity or idleness

2 :the act of laying off an employee or a workforce; also :shutdown

See layoff defined for English-language learners

See layoff defined for kids

Examples of layoff in a Sentence

The company announced the layoff of several hundred employees.
More layoffs are expected at the factory later this year.
The band finally has a new album after a three year layoff.
a layoff of three years

Recent Examples of layoff from the Web

Superintendent Patricia Charles had sought the layoffs, among other cost-cutting measures, as the weeks passed with no state budget.

— jesse leavenworth, courant.com, "Connecticut Budget Impasse Looms Over First Day Of School," 27 Aug. 2017
By 2013, layoffs and buyouts had brought the Post newsroom staff down to the low 600s.

— james warren, vanityfair.com, "Is The New York Times vs. The Washington Post vs. Trump the Last Great Newspaper War?," 30 July 2017
A national shortfall of 7.4 million affordable rental units has forced the country’s lowest-income renters to live month to month, always one medical problem or layoff away from losing another home.

— alden woods, azcentral, "'Here for the eviction': More renters forced from homes as affordable-housing crisis deepens," 16 July 2017
Tillerson’s initial proposals for reorganizing the agency also included the elimination of about 2,300 jobs, though aides have suggested those would come through attrition and retirements and not necessarily through layoffs.

— matthew lee, The Seattle Times, "Diplomats frustrated, confused by Trump administration," 5 July 2017
But the company quickly experienced financial trouble and layoffs as the health-care industry landscape changed.

— darla carter, The Courier-Journal, "Loss or opportunity? Could hospitals improve without KentuckyOne Health?," 3 July 2017
And without a budget, road construction workers faced layoffs in the middle of the summer. *

— chicago tribune staff, chicagotribune.com, "Morning Spin: What you need to know about the Illinois tax hike vote," 3 July 2017
Most of the layoffs are staffers in the central office, Salgado said.

— dawn rhodes, chicagotribune.com, "Pinched by state budget, City Colleges plans layoffs," 29 June 2017
This came with inevitable layoffs of staffers and editors alike, adding MTV to the long list of outlets cutting editorial teams in favor of visual content.

— felix kalvesmaki, Teen Vogue, "Why Using the “Teens Don’t Read” Excuse to Kill MTV News Is Misguided," 29 June 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'layoff.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of layoff

1889

layoff Synonyms

Synonyms

ax (or axe), discharge, dismissal, furlough, redundancy [chiefly British]

Related Words

pink slip; bird [chiefly British], boot, bum's rush, downsizing, firing, heave-ho, sack; closing, shutdown; shakeout, shake-up

Near Antonyms

callback, recall, reemployment, rehire, rehiring

lay off

verb

Definition of lay off

transitive verb

1 :to mark or measure off

2 :to cease to employ (a worker) often temporarily

3 of a bookie :to place all or part of (an accepted bet) with another bookie to reduce the risk

4 a :to leave undisturbed

b :avoid, quit

was advised to lay off smoking and alcohol

c :to refrain from swinging at (a pitch)

intransitive verb

1 :to stop doing or taking something

2 :to leave one alone

wish you'd just lay off

See lay off defined for kids

Examples of lay off in a Sentence

you need to lay off eating those jelly doughnuts, or you'll end up looking like one

First Known Use of lay off

1748

lay off Synonyms

Financial Definition of LAYOFF

layoff

noun

What It Is

A layoff is a temporary or permanent termination of employment by an employer.

How It Works

Let's say John Doe works for Company XYZ. He has worked there for 15 years. Company XYZ begins having cash flow problems and has to reduce its labor expense in order to avoid going out of business. In turn, it decides to shed 1,000 workers, of which John is one. This mass termination is called a layoff.

A layoff is not the same as being fired. Firings typically occur when an employee is at fault or has disobeyed company policies; terminations are not necessarily a direct reflection of a particular employee's performance (although it takes a village to wreck a company).

Why It Matters

From an investing standpoint, layoffs indicate a struggling company and thus are red flags for their investors. Layoffs can be surprises to people, and they are one of many reasons that investors should have emergency funds on hand at all times.

However, people often get some indication that a layoff is coming. The federal Worker Adjustment and Retraining Notification (WARN) Act requires employers to provide 60 days' notice (sometimes more) of plant closings and mass layoffs. However, this applies to companies with more than 100 employees (and that 100 generally cannot include people who have been with the company for fewer than six months or part-timers).

Source: Investing Answers