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Layoff Beard 

The term Layoff Beard refers to any facial hair that is grown in celebration of unemployment. Qualifying events include getting: canned, fired, axed, pink-slipped, downsized, marginalized, shown the door, let go, dismissed, let go, or laid off.

Layoff Beards were popularized in fall 2008 by the website TheCanned.com, which runs an unemployment-themed blog titled "The Layoff Beard."
There are a lot of bankers out there who have grown ferocious layoff beards following the financial crisis of 2008.
Layoff Beard by deaconblues February 11, 2009
The practice used by marginally profitable companies to compensate for ineffective management by releasing people from their employment.
Even after the layoff, the company still could not get into the black.
layoff by Way Cool Rich May 21, 2007

layoffcation 

When you are forced to take one or two weeks off of work by the man. This is done as a way to save the company money.
John: Hey Tim how are you going to spend your layoffcation?

Tim: By finding a new job so this shit doesn't happen again.
layoffcation by kildozer June 23, 2008

logoffski 

A term used in the online space MMORPG named EVE Online.

Logoffski is a tactic introduced by the Russian Red Alliance to avoid shiplosses; pressing Control-Q makes the gameclient quit, and the spaceship disappears within a few seconds.

God kills kittens if you commence this act.
Comrade, we cannot win, lets logoffski!!
logoffski by Trypho April 24, 2007
A tiny town in rural South Carolina that is full of the cockiest f****** rednecks you will ever meet. Politically this town is as conservative as the sky is blue. If your not white, straight, or Christian stay away from here. According to locals, neither side won the Civil War, it's "still happenin'!" The local high school is like going to a truck show...a monster truck show that is. The rebel flag is the official town flag.
Person #1: "Ever been to Lugoff?"

Person #2: "Um no, I'm black, gay, and I believe God is just an illusion sweetheart."
Lugoff by mattker124 February 22, 2009
A very small town full of rednecks. It is located in Kershaw County. Don't go there, they don't like you if you're different. There are approximately 40 cool people that live in this small town. See Jeter.
Person 1: I drove through Lugoff yesterday.
Person 2: I tried that once, but I got raped by hicks.
Person 1: Yep.
Lugoff by Hachachacha1 March 10, 2008