To lay off means, “to make redundant”, this means “to remove someone from a job because they are no longer needed”. So, it’s not exactly “to fire”. Usually “to lay off” has a different connotation. It is often for economic reasons. However “to fire” is often for performance.
To fire is “despedir”, to lay off es “despedir por razones económicas o por una falta de necesidad del trabajador por parte de la empresa”
Also, it’s separable (you can separate it):
Getting laid off isn’t great. Now let’s look at the next phrasal verb… 🚴