A layoff is the temporary suspension or permanent termination of an employee's (or a group of employees') employment for business reasons such as personnel management or downsizing. Originally referring only to temporary work interruptions, the term has evolved in both British and US English to also mean the permanent elimination of a position.
Definition
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee, or more commonly, a group of employees, for business reasons such as personnel management or downsizing an organization. Originally, the term referred exclusively to a temporary interruption in work or employment, but it has evolved to also denote the permanent elimination of a position in both British and US English. To specify the original meaning today, the word 'temporary' must be added.
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