1. （通常指因工作岗位不足的）解雇，裁员，下岗
When there are layoffs in a company, workers are told by their employers to leave their job, usually because there is no more work for them in the company.

e.g. It will close more than 200 stores nationwide resulting in the layoffs of an estimated 2,000 employees.
它将关闭全国200多家店铺，估计会有2,000名员工因此失业。

2. 休养；疗养；养伤
A layoff is a period of time in which people do not work or take part in their normal activities, often because they are resting or are injured.

e.g. They both made full recoveries after lengthy injury layoffs.
他俩因受伤长期休养后都已完全康复。

noun

1. the act of laying off an employee or a work force