Layoff Sample Clauses

Layoff. If (i) Grantee’s employment with the Company or a Subsidiary terminates as the result of a layoff and (ii) Grantee is entitled to receive severance pay pursuant to the terms of any severance pay plan of the Company in effect at the time of Grantee’s termination of employment that provides for severance pay calculated by multiplying Grantee’s base compensation by a specified severance period, then Grantee’s right to receive the Common Shares covered by this Agreement and any Deferred Cash Dividends then accumulated with respect thereto shall become nonforfeitable in accordance with the terms and conditions of Section 1(a) as if Grantee had remained in the continuous employ of the Company or a Subsidiary from the Date of Grant until the end of the severance period or the occurrence of a circumstance referenced in Section 2(a) or 2(b), whichever occurs first. Notwithstanding the foregoing, in the event Grantee’s employment is terminated as a result of layoff after Grantee becomes eligible for retirement at or after age 62 under a retirement plan of the Company or a Subsidiary, then Section 1(b) shall govern. For purposes of this Agreement, a “layoff” shall mean the involuntary termination by the Company or any Subsidiary of Grantee’s employment with the Company or any Subsidiary due to (i) a reduction in force leading to a permanent downsizing of the salaried workforce, (ii) a permanent shutdown of the plant, department or subdivision in which Grantee works, or (iii) an elimination of position.
Layoff. A layoff is defined as a permanent or prolonged reduction in the number of employees in a given bargaining unit resulting from a lack of funds, curtailment of work, and/or good faith reorganization for efficiency purposes. Prior to implementing a layoff, the Employer, within the context of its determination of the staffing needs of the layoff unit, will minimize overtime in the layoff unit impacted, the use of agency or traveler nurses in the layoff unit impacted, reliance on per diem and hourly staff in the layoff unit. The Employer will also seek volunteers in the layoff unit impacted who are willing to be reassigned or to be laid off in lieu of the employee(s) whose position is identified to be eliminated. Individuals who volunteer to be laid off will not have a displacement option but will retain the right to be placed on the rehire list.
Layoff. In the event the University determines that the number of bargaining unit employees must be reduced as a result of adverse financial circumstances; reallocation of resources; reorganization of degree or curriculum offerings or requirements; reorganization of academic or administrative structures, programs, or functions; or curtailment or abolition of one or more programs or functions, the University shall notify the UFF Chapter no less than thirty (30) days prior to taking such action and, if UFF so requests, the University President or his designee(s) shall meet with UFF to discuss the layoff prior to its implementation.
Layoff. In the event reduction of the work force is necessary in a particular store, the employee with the least seniority in that store, limited to the classifications as described in Section A-2 above, shall have the right to displace: (1) the least senior employee in the same classification currently employed by the Company within twenty five (25) miles of his home; or (2) the least senior employee in the Company within the jurisdiction of the Local Union, within the same classification. Any employee displaced as the result of No. (1) above, shall have the right to displace the least senior employee in the Company within the same classification. Should any employee who is involved in the application of seniority set forth in this Section refuse such transfer or should such employee lack the ability and qualifications to fill the job created by the seniority system set forth in this Section the Employer's obligation shall cease, except as specified in Section E below, and the layoff shall be effected in the store where the reduction in work force is necessary. No regular employee shall be laid off until the end of his 40-hour weekly shift. Nothing set forth in the preceding Paragraph shall prevent the Employer and the Union from developing a mutually satisfactory and agreeable system pertaining to the same subject. Before a full-time meat cutter is subject to a layoff or an hours reduction, the meat cutter will be offered sufficient hours to retain full-time status by first reducing hours of any extra meat cutter(s) or any part-time meat cutter(s) within twenty-five (25) miles from his home within the Company’s district in which he is employed. Second, by reducing hours of any extra meat cutter(s) or any part-time meat cutter(s) within the entire district, and third by reducing the hours of any extra meat cutter(s) or any part-time meat cutter(s) within the Union’s jurisdiction. If there are no extra meat cutters or part-time meat cutters within the jurisdiction, working the hours necessary to retain full-time status, then the affected full-time meat cutter shall have the right to displace the least senior full-time meat cutter within the Union’s jurisdiction. This displaced least senior full-time meat cutter shall have the same hours retaining rights as set forth above.