Layoff
hideLayoff is the temporary suspension or permanent termination of employment of an employee or (more commonly) a group of employees for business reasons, such as the decision that certain positions are no longer necessary or a business slow-down or interruption in work. Originally the term "layoff" referred exclusively to a temporary interruption in work, as when factory work cyclically falls off. However, in recent times the term can also refer to the permanent elimination of a position.
Downsizing is the ‘conscious use of permanent personnel reductions in an attempt to improve efficiency and/or effectiveness’ (Budros 1999, p. 70). Since the 1980s, downsizing has gained strategic legitimacy. Indeed, recent research on downsizing in the US (Baumol et al. 2003, see also the American Management Association annual surveys since 1990), UK (Sahdev et al. 1999; Chorely 2002; Mason 2002; Rogers 2002), and Japan (Mroczkowski and Hanaoka 1997; Ahmakjian and Robinson 2001) suggests that downsizing is being regarded by management as one of the preferred routes to turning around declining organisations, cutting cost and improving organisational performance (Mellahi and Wilkinson 2004 )most often as a cost-cutting measure.
Further euphemisms are often used to "soften the blow" in the process of firing and being fired, (Wilkinson 2005, Redman and Wilkinson,2006) including downsize, rightsize, smartsize, redeployment, workforce reduction, workforce optimization, simplification, force shaping, and reduction in force (also called a "RIF", especially in the government employment sector). Mass layoff implies laying off a large number of workers. Attrition implies that positions will be eliminated as workers quit or retire. Early retirement means workers may quit now yet still remain eligible for their retirement benefits later. While redundancy is a specific legal term in UK employment law, it may be perceived as obfuscation. Firings imply misconduct or failure while lay-offs imply economic forces beyond one's control.
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News tagged with layoffs
AOL to log additional $200M in restructuring costs
Nov 12, 2009 |
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(AP) -- New regulatory filings suggest many more layoffs could be coming at AOL LLC as it separates from Time Warner Inc. by the end of the year.
Adobe cutting 680 jobs
Nov 10, 2009 |
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Adobe Systems, known for its Photoshop editing program and Acrobat document software, announced on Tuesday it was cutting some 680 jobs worldwide, about nine percent of its workforce.
Microsoft lays off 800 more workers worldwide
Nov 04, 2009 |
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(AP) -- Microsoft Corp. says it is cutting 800 more jobs. That's in addition to the 5,000 layoffs it announced in January.
Major layoffs loom at Time Inc.: reports
Oct 30, 2009 |
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Time Inc., publisher of Time, Fortune, Sports Illustrated, People and other magazines, plans to lay off some 540 employees starting next week, or six percent of its workforce, The New York Post reported Friday.
Sun CEO's pay package cut by a third in '09
Oct 29, 2009 |
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(AP) -- The value of Sun Microsystems Inc. CEO Jonathan Schwartz's latest pay package dropped 37 percent from last year as the company lost more than $2 billion and was in such dire financial shape that it ...
Verizon profit falls 30 pct on restructuring costs
Oct 26, 2009 |
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(AP) -- Verizon Communications Inc. reported a 30 percent drop in third-quarter earnings Monday as it couldn't sign up enough new subscribers to offset higher costs from laying off workers and absorbing an ...
Researcher: Businesses can survive recession by capitalizing on positivity
Aug 18, 2009 |
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(PhysOrg.com) -- Layoffs. Pay cuts. Hiring freezes and mandatory furloughs. The economy's effect on the average employee has been profound in the last year. In such an environment, staying upbeat on the job can be difficult. ...
Lockheed Martin aerospace division to cut 800 jobs
Space & Earth / Space Exploration
Aug 17, 2009 |
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Lockheed Martin Space Systems Company, a division of US global security firm Lockheed Martin Corporation, said Monday it would cut about 800 jobs by year-end to improve its competitiveness.
Cisco earnings fall 46 pct but beat expectations
Aug 05, 2009 |
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(AP) -- Cisco Systems Inc. said earnings fell 46 percent in its latest quarter, but the profit beat Wall Street expectations, and the company said the quarter may have been the bottom of the recession-related ...
Motorola posts unexpected 2Q profit
Jul 30, 2009 |
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(AP) -- Helped by deep cost cuts, Motorola Inc. on Thursday posted an unexpected profit for the second quarter after several quarters of losses, and said it expected things to keep improving this year.
Earning preview: Microsoft looms over Yahoo 2Q
Jul 20, 2009 |
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(AP) -- Internet pioneer Yahoo Inc. is scheduled to report its second-quarter results after the stock market closes Tuesday. The following is a summary of key developments and analyst opinion related to the period.
Microsoft moves forward on plan to lay off 5,000
May 05, 2009 |
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(AP) -- Microsoft Corp. is pulling the trigger on thousands of the 5,000 job cuts it announced in January.
Yahoo plans first major layoffs under new CEO
Apr 15, 2009 |
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(AP) -- Yahoo Inc. is gearing up for its third round of mass layoffs in 14 months, signaling the long-slumping Internet company is still struggling to snap out of its financial malaise under a new leadership team.
High-tech layoffs climb in first quarter
Apr 06, 2009 |
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During the first three months of 2009 the high-tech sector in the U.S. suffered its deepest layoffs in seven years, according to a firm that tracks the jobs market.
Global outlook for IT, jobs in difficult times
Apr 01, 2009 |
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Craig Mundie, Microsoft chief research and strategy officer, took a break from the company's Government Leaders Forum -- Americas on Wednesday to discuss global competitiveness, technology and government IT spending.
