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While the main formal term for ending someone's employment is "dismissal", there are a number of colloquial or euphemistic expressions for the same action. "Firing" is a common colloquial term in the English language (particularly used in the U.S. and Canada), which may have originated in the 1910s at the National Cash Register Company. [2]
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
Some readers asked what "subsidy" employers get from 401(k) advisors and mutual fund families. Here's the way it works. Brokers and fund families (with few exceptions) make.
In most states, you can apply for unemployment benefits if you lost your job after age 62 and still plan to continue working — so long as you weren’t fired “for cause.”
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Inducement: If you were convinced to leave a previous job for one which quickly let you go, you may be able to get extra compensation, especially if your previous position was very stable and you were not looking for a new job. Bad faith: If you were fired in a particularly cruel manner, harassed or lied to by your employer, extra compensation ...
“People in this situation may think about taking a career change, opening a business or taking a part-time job and using retirement income to make up the difference in income needs,” says Czajka.
A layoff [1] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [2] for business reasons, such as personnel management or downsizing (reducing the size of) an organization.