The term UNEMPLOY, IN A WAY can be summarized as 'LAYOFF', which is a 6 letter word. Layoff is a term used to describe the process of an employer temporarily or permanently reducing the size of their workforce. This is usually done due to financial reasons, such as a decrease in demand for the company's products or services. Layoffs can also occur when a company is restructuring or downsizing. In either case, employees are laid off and are no longer employed by the company.