Layoffs

Job Sharing
The concept of job sharing involves dividing the responsibilities and hours of one job between two people. It serves as a strategic alternative to layoffs, providing each employee with part-time work during challenging economic conditions.
Restructuring
Restructuring involves reorganizing the composition and operations of an organization, which can result in significant changes, including the elimination or replacement of departments and divisions, and potentially causing temporary or permanent layoffs.
Seniority System
A method based upon length of service for determining employment advantages, crucial for promotions and layoffs, and often strongly advocated by unions.

Accounting Terms Lexicon

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