👉 A layoff is a period of reduced or decreased employment, often due to changes in business conditions or economic downturns. It can refer to an abrupt reduction in the number of employees at a company or organization, typically occurring when revenues decrease significantly and demand for services declines. In summary, a layoff refers to a temporary reduction in workforce that occurs as a result of financial difficulties or other factors affecting the economy and business operations.
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What is the definition of Layoffs? 🙋
👉 Layoffs, also known as job cuts or layoff notices, are instances of layoffs in which an organization decides to dismiss part or all of its workforce. Layoffs can occur for various reasons such as financial difficulties, industry changes, employee turnover, or other external events. These decisions are typically made by the company's management team and are often communicated to affected employees through communication channels like email, social media, or in-person meetings. In the context of layoffs, the term "laid-off
