large-scale layoffs

Large-scale layoffs refer to the widespread dismissal of employees by a company, often affecting hundreds or thousands of workers. This can occur due to various reasons, such as economic downturns, company restructuring, technological advancements, or changes in market demand. While layoffs aim to reduce costs and improve efficiency, they can have significant impacts on the affected employees and the broader economy, leading to increased unemployment rates and financial insecurity for many. The decision to implement large-scale layoffs often reflects strategic changes within a company facing challenges or aiming to realign its business model.