Usually means: Termination of employees for economy.
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We found 11 dictionaries that define the word layoffs:

General (9 matching dictionaries)
  1. layoffs: Merriam-Webster
  2. layoffs: Collins English Dictionary
  3. layoffs: Vocabulary.com
  4. Layoffs, layoffs, layoffs: Wordnik
  5. layoffs: Cambridge Advanced Learner's Dictionary
  6. layoffs: Wiktionary
  7. layoffs: Dictionary.com
  8. layoffs: Cambridge Essential American English Dictionary
  9. Layoffs: Wikipedia, the Free Encyclopedia

Business (2 matching dictionaries)
  1. Layoffs: Legal dictionary
  2. Layoffs: Financial dictionary

(Note: See layoff as well.)

Definitions from Wiktionary (layoff)

noun:  (chiefly US) A dismissal of employees from their jobs because of tightened budgetary constraints or work shortage (not due to poor performance or misconduct).
noun:  A period of time when someone is unavailable for work.
noun:  (British, soccer) A short pass that has been rolled in front of another player for them to kick.
noun:  A bet that is laid off, i.e. placed with another bookmaker in order to reduce risk.
▸ Also see layoff


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