Lay off
A layoff is the termination of an employee for business reasons, such as the decision that the performance of that employee's job is no longer necessary. A layoff may be temporary, when factory work cyclically falls off, or permanent, in the elimination of a position as a cost-cutting measure. Further euphemisms are often used to "soften the blow" in the process firing and being fired, including redundancy, downsize and rightsize, workforce reduction and reduction in force. 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. -- WikiPedia:Lay_off


Which one?
  • to increase a company's profits
  • downsizing is driven by macroeconomic forces
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