The acronym "RIF" most commonly stands for "Reduction in Force." It refers to a personnel management action or corporate decision to permanently reduce the number of employees, often due to budget cuts, restructuring, layoffs, economic downturns, or other cost-saving measures. It typically involves eliminating job positions on a large scale and is considered permanent, unlike temporary layoffs or furloughs.
Another context where "RIF" is used is in finance, where it stands for "Retirement Income Fund," which is an investment product designed for conservative saving and income during retirement, popular in Canada.
Also, in military or civil service context, "RIF" can mean to discharge a person as part of an economy program.
Most often, in workplace and HR contexts, "RIF" means Reduction in Force, referring to employee termination actions due to organizational or financial reasons.
