Layoff
Temporary or permanent employee separation from employment.
Real World
In 2023 Meta laid off over 11,000 employees as part of a restructuring drive to cut costs following a sharp fall in advertising revenue — one of the largest tech layoffs in history.
Exam Focus
Distinguish layoff (business-driven, redundancy pay applies) from dismissal (conduct-driven) — confusing the two is a common error.
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