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Laying-off

A business which is in financial trouble may need to reduce its level of operations, perhaps substantially, and in doing so it may be necessary to reduce its i about by a continual dislocation of production due for example to disruptions at the supplier’s factory. Employees can be laid off either temporarily or permanently, and in the latter case it may be necessary to make statutory redundancy payments.

Reference: The Penguin Business Dictionary , 3rd edt.