lay off vs retire

lay off and retire both are verbs.

Word	Noun	Adjective	Verb	Adverb
lay off	No	No	Yes	No
retire	No	No	Yes	No

As verbs, retire is a hyponym of lay off; that is, retire is a word with a more specific, narrower meaning than lay off:

lay off (verb)	retire (verb)
dismiss, usually for economic reasons	prepare for sleep
put an end to a state or an activity	cause to get out
	cause to be out on a fielding play
	lose interest
	pull back or move away or backward
	dispose of (something no longer useful or needed)
	break from a meeting or gathering
	go into retirement; stop performing one's work or withdraw from one's position
	withdraw from active participation
	make (someone) retire
	withdraw from circulation or from the market, as of bills, shares, and bonds