What is a Layoff?

Answer:
A layoff is when an employee's job position is terminated.

Being laid off, although unpleasant, does not have the same negative connotation as being fired. Layoffs are often due to downsizing or financial problems, and not any misconduct or shortcoming on the part of the employee. Layoffs also occur frequently in seasonal work, when there is more demand during one season of the year than others.

If an employee has been laid off, he can usually qualify for unemployment benefits, and should file for employment as soon as the layoff takes place. Layoffs are obviously more likely to occur during difficult economic times, and can have a domino effect from one industry to another.


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