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A layoff [1] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [2] for business reasons, such as personnel management or downsizing an organization.
Closure may be the result of a bankruptcy, where the organization lacks sufficient funds to continue operations, as a result of the proprietor of the business dying, as a result of a business being purchased by another organization (or a competitor) and shut down as superfluous, or because it is the non-surviving entity in a corporate merger.
Employee attrition, employee turnover, and employee churn all refer to an employee quitting the job, and are often used as synonyms. For the first two terms, the difference is due to the context, i.e., the reasons for the employee leaving.
Experts share that you should keep it honest but tactful regardless of the reason. "Stick to facts when sharing your reason for leaving and avoid airing dirty laundry," Leasher says. 4.
Here are the top 10 reasons they're leaving. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach ... Business. Elections. Entertainment.
The most common reasons for CEO departures were "stepped down" (551), "no reason given" (496), retirement (445), new opportunity (148), and resignation (124). In addition, 95 CEOs left after their ...
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
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