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Definition of

layoff

HR & Personnel

termination of employment because of too little work dismissal, often temporarily, from work because a job ceases to exist or because of lack of work. Employees who are laid off may qualify for severance pay. If the layoff process is handled incorrectly, the employer may be faced with claims for unfair dismissal.

Related definitions of "layoff"

Definitions of ’layoff’ and meaning of ’layoff’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’layoff’ and other financial terms with our online QFINANCE Financial Dictionary.

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