What’s the difference between a layoff, attrition and voluntary separation?
A – A layoff refers to the temporary or permanent termination of an employee because of economic conditions, rather that poor performance or violation of company policies. Attrition refers to the process by which a payroll is reduced by retirements, death and voluntary departures. Voluntary separation means an employee has left the company on his or her own initiative, sometimes in response to a buyout offer by the company.
