Layoff (noun)

1. The act of dismissing or terminating employees from work, especially due to economic reasons such as downsizing or budget cuts.
2. A period of time during which an employee is temporarily dismissed from work.

Origin:

Originally from british lay off, from lay (to dismiss from work), from middle english leggen, from old english lecgan.

Examples:

1. The company announced that there would be a layoff of 200 workers in the coming month.
2. The employees were upset by the sudden layoff, as they had no warning or explanation.
3. Many workers were forced to take a layoff when the factory shut down for the winter.
4. The layoff came as a shock to the employees, who had just received positive performance evaluations.
5. The workers' union is negotiating with the company to minimize the impact of the layoff on the affected employees.