When you submit your loan forgiveness application after your loan period is up, you'll need to list any employees laid off. Each laid-off employee will further reduce the amount of loan forgiveness. The actual dollar amount of the per-employee reduction can vary, as it's tied to previous benchmarks for what that business pays its employees. You can read more about it here, but the short answer is that you'll still get some loan forgiven, but the amount forgiven will drop farther for every employee laid off.