layoff has definitions from the fields of work,business
[ noun ] (work,business) the act of laying off an employee or a work force

Used in print

([Anonymous,] "The Attack on Employee Services"...)

leaves_of_absences , illnesses , and layoffs .

(Gene Caesar, Rifle for Rent....)

But to the cattlemen who had been facing bankruptcy from rustling losses and to the cowboys who had been faced with lay-offs a_few years earlier , he was becoming a vastly different type of legendary figure .

Related terms

closure furlough