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Layoff (in british and american english), also called redundancy in the uk, is the temporary suspension or permanent termination of employment of an employee or (more commonly) a group of employees for business reasons, such as when certain positions are no longer necessary or when a business slow-down occurs. originally the term layoff referred exclusively to a temporary interruption in work, as when factory work cyclically falls off.
Cuts are yet to be officially announced
If governments do nothing
There is hope yet, but the solution is painful.
Micree Zhan has some choice words for the cryptocurrency mining hardware firm
'Sales are not what we expected'