MASS LAYOFF Meaning and
Definition
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A mass layoff refers to a situation in which an organization terminates a significant number of employees within a short span of time, typically exceeding a predetermined threshold. It is a planned and strategic reduction in workforce size, most commonly due to economic factors, restructuring efforts, or a need to cut expenses. This type of layoff is distinct from individual or sporadic terminations as it involves a substantial number of employees being affected simultaneously.
Mass layoffs can occur in various industries and sectors, impacting both private and public organizations. The affected employees may include workers from different departments, levels of hierarchy, or even entire divisions. The specific number of individuals affected can vary based on the organization's size and the circumstances surrounding the layoff decision.
Usually, mass layoffs are obligated to meet certain legal requirements, depending on the jurisdiction. These obligations may include providing prior notice, severance pay, and offering support services to affected employees, such as outplacement services or job searching assistance.
Mass layoffs can have considerable consequences for both the impacted employees and the organization. For the employees, it often results in unemployment, financial hardship, and potential challenges in finding new employment. The organization may face a decline in morale among remaining employees, possible decline in productivity, and potential damage to the organization's reputation. Employers may employ mass layoffs as a strategy to respond to changes in the business environment, streamline operations, or adapt to financial challenges.
Common Misspellings for MASS LAYOFF
- nass layoff
- kass layoff
- jass layoff
- mzss layoff
- msss layoff
- mwss layoff
- mqss layoff
- maas layoff
- mazs layoff
- maxs layoff
- mads layoff
- maes layoff
- maws layoff
- masa layoff
- masz layoff
- masx layoff
- masd layoff
- mase layoff
- masw layoff
- mass kayoff
Etymology of MASS LAYOFF
The word "mass layoff" has a straightforward etymology. It combines the noun "mass", meaning a large amount or quantity, with the noun "layoff", which refers to the termination or dismissal of employees from work.
