Layoff
Layoff (also called redundancy in British English),[1] is when an employee (or, more commonly, a number of employees at the same time) has their job pha…
Layoff (also called redundancy in British English),[1] is when an employee (or, more commonly, a number of employees at the same time) has their job phased out or removed from a company, and does not work due to temporary or permanent work suspension. There are legal differences from being terminated or being fired.[2][3] People who are laid off generally do not have "replacements" at their job.
The meaning of "layoff" has changed over time. It first meant that there would be a temporary "interruption" at places like factories, where people would eventually return to their job. In modern times, "laying someone off" is usually permanent, although in some special cases someone can be laid off temporarily.
Often, layoffs are related to companies or locations shutting down, or going out of business. Other times, parts of companies and divisions might be reorganized and people might be unnecessary or "redundant" if two divisions were performing the same tasks before they reorganized.
Sometimes, the positions are just no longer required and have been replaced by the use of a technology (for example, many people now type their own correspondence and no longer feel they need a secretary), or a business methodology (for example, the presence of kiosks in many fast food restaurants).
Often, layoffs occur for financial reasons, but many successful companies increase their earnings by performing layoffs and adopting or adapting technology to replace employees. This is increasingly a concern in fields which interact with or can be automated through the use of artificial intelligence (such as creative jobs, investment banking, and computer software development).
References
- ↑ "Definition of redundancy | Dictionary.com". www.dictionary.com. Retrieved 2022-04-14.
- ↑ "What is the Difference Between Being Fired and Laid Off?". Retrieved 25 December 2010.
- ↑ "Laid Off vs. Fired". oregon.gov. 2010-11-25. Retrieved 25 December 2010.
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