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What is a layoff?

What is a layoff? Here are some definitions.

Noun
  1. (chiefly US) A dismissal of employees from their jobs because of tightened budgetary constraints or work shortage (not due to poor performance or misconduct).
  2. A period of time when someone is unavailable for work.
  3. (Britain, soccer) A short pass that has been rolled in front of another player for them to kick.
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Examples
Management officials disciplined all of them with punishments ranging from a one-week layoff to discharge.
It will be interesting to see how Greer, traditionally a slow starter, responds to the long layoff.
Each of us may well be one paycheque or more away from poverty because all it takes to be in that situation is a firing or layoff.
I recently asked a skilled worker, who enjoys a fairly comfortable standard of living, how he would be affected by a prolonged layoff.
This pattern of mistrust is repeated in company after company as years of loyalty are rewarded with layoff notices and rejiggered pension plans.
A mother bemoaned the layoff of the untenured special ed teacher who had taught her autistic child.

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