Layoffs

Layoffs refer to the termination of employment of an employee or a group of employees, usually due to an organization's need to reduce its workforce. This decision is often influenced by various factors, such as financial difficulties, restructuring, mergers, technological changes, or the need to cut costs. Unlike dismissals for misconduct, layoffs are typically not performance-related; they are based on the organization’s strategic decisions. Employees who are laid off may be entitled to severance packages, benefits, or support in finding new employment, depending on company policies and legal regulations. Layoffs can significantly affect the morale of remaining employees, the organization's reputation, and the local economy.