Layoff or downsizing was the systematic shrinking of a business by eliminating positions there.
According to Gerald Moss, Shannon O'Donnel's losing her most recent job could be attributed to the recent trend of downsizing in the field of aerospace engineering. (VOY: "11:59")
Henry Garcia and others working at a brewery in San Francisco were laid off in 2024. (DS9: "Past Tense, Part II")
When Quark threatened the employees of Quark's with a pay cut in 2372, they argued with his plan, where after he gave them a second option: "It's either a pay cut or a layoff. You decide." (DS9: "Bar Association")