Not to speak for Patrick, but a layoff is a specific kind of exit; as an example: in a factory, workers will be laid off for a month when orders are low, then c

Not to speak for Patrick, but a layoff is a specific kind of exit; as an example: in a factory, workers will be laid off for a month when orders are low, then called in again when volume picks up. It's probably the case that if one is contemplating shutting the company down, an hour with a HR-oriented lawyer would be worth it to avoid saying the wrong thing (and thus ending up in court). You can find a definition here: http://definitions.uslegal.com/l/layoff/ http://definitions.uslegal.com/l/layoff/