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Definition: a Layoff is the temporary suspension or permanent termination of employment of an employee or (more commonly) a group of employees for business reasons, such as when certain positions are no longer necessary or when a business slow-down occurs, or due to poor economic cycles, corporate restructuring, reduction in force or downsizing, bankruptcy, a change in the products or services the company is providing (redundancy). |
More on termination of employment: Attrition, Dismissal, Downsizing, Employee Exit Management, Employee Furlough, more on termination of employment... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
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