layoff

noun

The act of letting workers go because of budget cuts or lack of work, not because they did anything wrong.

Example sentence

“After the layoff, he spent three months searching for a new job.”

A layoff is job loss without fault; being 'fired' implies wrongdoing. Announcements soften it further with 'restructuring'.

Related words

resignTo formally give up a job or position by choice.demotionA move down to a lower position, rank, or level.recruitTo find and sign up new people for a job, team, organization, or the military.raiseTo move something to a higher position; to lift up.candidateSomeone trying to win an election or be chosen for a job or position.pensionRegular payments made to someone after they retire from work or military service.