BUSINESS ADMINISTRATION
HUMAN RESOURCES MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Layoff
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Employee Turnover
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Discharge
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Exit Interview
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Detailed explanation-1: -A layoff is when an employer temporarily or permanently reduces the number of employees, while a lockout is when an employer prevents employees from working due to a labor dispute.
Detailed explanation-2: -Involuntary layoffs are when employees are laid off because the company has to reduce its workforce. Voluntary layoffs are when employees choose to leave the company because they have been offered a severance package.
Detailed explanation-3: -Last updated on Feb 24, 2023. A layoff is when an employer temporarily or permanently terminates the employment of a worker, usually due to financial reasons or a lack of work. Retrenchment is a form of layoffs, typically used in the context of a company downsizing or restructuring its operations.
Detailed explanation-4: -For regular professional staff, layoff is the elimination of a position due to a lack of work, a lack of funds and/or because of a reorganization. Reducing a professional staff position’s percent time or months worked per year are not subject to the layoff process.