layoff

/ˈleɪˌɔf/
noun
  1. The act of ending a worker's job because there is not enough work or money, not because of poor performance.
    • The company announced a large layoff after losing money last quarter.
    • She was worried about a layoff when the factory slowed production.
    • After the layoff, he spent months looking for a new job.
  2. A period of time when someone is not working or active.
    • He used the layoff from work to travel and learn new skills.
    • A long layoff from school made it hard to get back into studying.
    • The athlete returned to the field after a six-month layoff due to injury.
Antonyms