1. What is a Lay Off Letter?
Lay off is the situation in which the company has to let go of its employee due to the economic crises that the company is facing. Laying off employees can be a very complicated situation for the company as the company that lays off is usually seen as weak and loses the reputation and trust of investors in the market. for the short duration of time terminates the working of few employees. In Temporary lay off the employees are not permanently discharged but the only salaries are not paid for time being. In case of Permanent lay off the employees are discharged from their duties forever.
2. Why is it important?
A. To cope with the economic burden, the company reduces the staff and gain economic stability.
B. Laying off discharges the employee from the company duties and frees them to find another opportunity instead of getting hitched with the company and working at no or fewer salaries.
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