What is a 'Furlough'?

A furlough is a temporary layoff, involuntary leave or other modification of normal working hours without pay for a specified duration. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Furlough A furlough is a temporary layoff, an involuntary leave, or another modification of normal working hours without pay for a specified duration. Businesses use furloughs for a variety of reasons, such as plant shutdowns, or when a broad reorganization makes it unclear which employees will be retained. Furloughs are used in the military for soldiers whose new assignments have not yet been determined. Read More » Related to "Furlough" How to Apply for Unemployment Insurance Now Out of work because of the coronavirus? Here's what you can expect if you apply for unemployment insurance now. Read More » The Special Economic Impact of Pandemics As governments around the world limit the mobility of their people, most experts agree that a significant drop in economic output is inevitable. Read More » SPONSORED BY INVESCO The Complete Guide to ETFs ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. Learn More » 9 Ways to Find a New Job Job seekers are getting more creative to get ahead of the pack. Here are nine smart ways to move onwards and upwards. Read More » Related Definitions Reorganization A reorganization is an overhaul of a troubled company's management and business operations with the aim of restoring it to profitability. Read More » Economic Conditions Economic conditions are the state of the economy in a country or region and change over time in line with the economic and business cycle. Read More » Hiring Freeze A hiring freeze is when an employer temporarily halts non-essential hiring to reduce costs; usually when an organization is under financial duress. Read More » Fair Labor Standards Act The Fair Labor Standards Act (FLSA) is a U.S. law that is intended to protect workers against certain unfair pay practices. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy