layoff

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Definitions from WordNet

Noun layoff has 1 sense

layoff - the act of laying off an employee or a work force
--₁ is a kind of closure, closedown, closing, shutdown

Derived form: verb lay off₂

Definitions from the Web

Layoff (noun) the act of dismissing employees, usually due to economic conditions or company restructuring.

Example Sentence: The company announced a layoff of 500 employees due to financial difficulties.

Layoff (verb) to dismiss employees from their jobs, usually due to economic conditions or company restructuring.

Example Sentence: The company had to layoff several workers in order to cut costs and stay afloat.

Layoff (adjective) relating to the act of dismissing employees, usually due to economic conditions or company restructuring.

Example Sentence: The loss of jobs caused by the layoff announcement led to a city-wide outcry.