layoff

layoff. The termination of employment at the employer’s instigation; esp., the termination — either temporary or permanent — of many employees in a short time.

— Also termed reduction in force. — lay off, vb.

mass layoff. Labor law. Under the Worker Adjustment and Retraining Notification Act, a reduction in force that results in the loss of work at a single site, of 30 days or more, for at least 500 full-time employees, or 50 or more full-time employees if they make up at least 33% of the employees at that site. 29 USCA § 2101(a)(3). See WORKER ADJUSTMENT AND RETRAINING NOTIFICATION ACT. [Cases: Labor Relations

7. 1.]

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词条贡献者

双语律师Lorna，国际知名商学院金融专业，擅长翻译涉及金融创新和金融科技领域的法律文件。