layoffs
n. plural-onlyn. the act of ending a worker's job because the company no longer needs them or has no money to pay them. It is usually not the worker's fault.
n. the termination of employment by an employer, typically due to economic conditions, restructuring, or a lack of available work. Often implies a collective action affecting multiple staff members simultaneously.
The tech company announced major layoffs this morning.
Due to the sudden drop in demand, the factory had to implement layoffs for nearly half of its assembly line staff.
Economists argue that while mass layoffs provide immediate cost relief for struggling firms, they often result in a significant loss of institutional knowledge that hinders long-term recovery.
Usually appears in the plural form when referring to the general event or a series of job cuts.
The company made a layoff of 500 people.The company laid off 500 people.Learners often use the noun 'layoff' where the phrasal verb 'lay off' is more natural for describing the action.