layoffs

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Layoffs have become increasingly common in the American workplace as the United States suffers through a particularly tough recession — one which has been described by leading economists and politicians as being "the worst since the Great Depression".

A layoff by definition is what happens when your occupation — your "job" — has been eliminated for reasons other than termination due to things like violating company policies, theft, or poor job performance.

Layoffs most often occur as a result of companies making necessary reductions in the work force, or in some cases eliminating positions or even entire departments altogether. This is commonly referred to as "downsizing". The one upside to being "laid off" is that companies will often call dismissed employees back into service, once their own economic fortunes improve. The net result, however, remains unemployment for the dismissed worker.

With the current economic downturn showing little signs of a quick turnaround, leaders around the world are looking for solutions to stimulate their local economies. In the meantime, layoffs continue to cut deep into the economy, even affecting such business giants as Microsoft, Target, and IBM.

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