lay off

To either drop like a bad habit, or to at least take a psychological step back from a situation.

To cease any action or activity; to stay away; danger!

- american underworld dictionary - 1950

verb: An action taking by a company to reduce the size of its workforce in short order. Employees who are laid off can be given no notice, be terminated without cause, and ceremoniously booted out the door. While nominally lay offs occur in a completely apolitical environment, all too frequently employees are selected to be laid off according to the agendas of managers and directors.

When a publicly traded company is going to lay off more than 10 percent of its workforce, it must notifed its shareholders (or The Street) of this action as soon as it has been decided, even if the lay offs will not happen for some period of time.