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don't know, just faced the same expression, so i searched for it...

The rolling layoffs have a defined period - such as one week per month - when employees will be laid off, but also when a clearly defined date to return to work is scheduled.

http://layofftracker.blogspot.com/2009/05/caterpillar-implements-rolling-layoffs.html

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Q: What is a rolling layoff?
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