retire vs lay off

retire and lay off both are verbs.

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

As verbs, lay off is a hypernym of retire; that is, lay off is a word with a broader meaning than retire:

Other hypernyms of retire include cease, discontinue, give up, quit, stop.

retire (verb)	lay off (verb)
prepare for sleep	dismiss, usually for economic reasons
cause to get out	put an end to a state or an activity
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