Meaning of “redundancy” - Learner’s Dictionary

redundancy

noun uk us /rɪˈdʌndənsi/
NO JOB [ C, U ] UK

an occasion when your employer makes you stop working because there is not enough work:

There have been a lot of redundancies in the mining industry.
EXTRA [ U ]

a situation in which something is not needed or used because there are other similar or more modern things

(Definition of “redundancy” from the Cambridge Learner’s Dictionary © Cambridge University Press)