/ˈleɪɔf/ – Noun
Definition: Sự sa thải hoặc giảm nhân sự do lý do kinh doanh.
A more thorough explanation: a situation where an employer stops employing someone, many times temporarily, because the employer does not have enough enough work or money
Example: City education officials on Monday announced 241 lay-offs in the city’s 26 schools.