Generally, layoffs should be a last resort; there are many other techniques available to reduce your payroll costs that should be strongly considered before terminating your employees.
Extreme care must be used when terminating or laying off employees. You need to consult with a qualified Human Resources expert or employment attorney.
Do you know about the WARN Act?
Do you know about the Older Workers Benefit Protection Act?
Are you completely comfortable with knowing that your layoffs will not result in a discrimination or wrongful termination lawsuit?
Extreme care. Use it in these situations.