Layoff

Posted in Human Resource Terms, Total Reads: 1576
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Definition: Layoff

Layoff or Downsizing refers to reducing the overall size and operating costs of a company. It is mostly done through reducing the total number of employees in the company.

It is mostly seen when the market conditions are tight because than it’s a matter of survival for companies. It has very unnerving and depressing effects on the employees.

 

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