A layoff: a dismissal, a redundancy.
To lay off: to fire, to dismiss.
Also: to stop bothering someone; to cease an activity.
Ex: Lay off me! I’m trying to lay off coffee.
Layoffs in the news
February has seen 2000+ layoffs in digital publishing (Buzzfeed, Vice) as Facebook swallows advertising revenue.
Many talented journalists will have to lay offinvestigating and writing for now.
Fortunately, everyone on social media is a journalist now. BTW, did you hear that the Earth was flat?
Things to do after the layoff
Lay low: Be discrete. People might not notice you’re unemployed.
Lay an egg (like a hen). Learning new skills is essential for re-employment.
Get laid: Have sex. Better than being screwed by Facebook.
In layman’s terms
Husband 1: Honey, I just got laid.
Husband 2: What?!
Husband 1: I mean I just got laid off.
Husband 2: WHAT?!
Husband 1: I mean I just laid an egg.
Husband 2: Honey, please lay off the drugs.