mass layoffs

Mass layoffs occur when a company or organization terminates the employment of a large number of employees at once, often due to financial difficulties, restructuring, or economic downturns. This decision typically affects multiple departments or the entire workforce, rather than individual dismissals. The goal may be to reduce costs, adapt to market changes, or improve efficiency. While necessary for the company's survival or strategic shift, mass layoffs can have significant personal and community impacts, often resulting in increased unemployment and economic uncertainty for those affected.