Final answer:
Layoffs occur when employees are terminated from their employment for business reasons.
Step-by-step explanation:
Layoffs occur when employees are terminated from their employment for business reasons, making option E the correct answer. During layoffs, companies may need to reduce their workforce due to changes in the economy, technological advancements, or shifts in market demand. As a result, employees are let go to cut costs and ensure the long-term viability of the business.