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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 an organization.
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 ...
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [1]
The uncertainty surrounding employment has left many workers on edge, fearing that their jobs could be the next to go. Read Next: 22 Side Gigs That Can Make You Richer Than a Full-Time Job Try ...
With massive layoffs in the face of the COVID-19 crisis and unemployment claims at a record high, many of us are expecting the worst-case scenario of losing our livelihoods. From financial and ...
The economy is unpredictable right now, and layoffs are happening like crazy. On Jan. 18, Microsoft announced it would cut 10,000 jobs to trim costs. This was not long after Amazon announced it ...
the employee is dismissed under the group redundancy procedure (collective dismissals), or; dismissal is individual but made exclusively for reasons other than the employee's conduct and performance, provided the employer employs at least 20 employees. Severance amounts to:
There are legitimate alternatives to layoffs. Consider Cleveland-based Lincoln Electric -- a company that has not given a single employee a permanent pink slip for economic reasons since 1948 ...
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