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Shifting of factors of production from one use to another. When labour is redeployed, this can mean that workers no longer needed in one part of a firm are found jobs in another part. In many cases, however, new jobs are not available within the firm, and redeployment is sometimes used as a euphemism for redundancy, with no definite prospect of any alternative job.

Reference: Oxford Press Dictonary of Economics, 5th edt.