Meaning of the word "laid off" in English

What does "laid off" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

laid off

US /leɪd ɔf/
UK /leɪd ɒf/

Phrasal Verb

to dismiss an employee from a job, typically temporarily, due to economic conditions or lack of work

Example:
Many workers were laid off during the recession.
The company had to lay off a quarter of its staff.