The best replacement for furlough is layoff.

The best alternatives to furlough are rated as following:
★★★★★  layoff
★★  rif
★★  pay cut
★  sequestration
★  work release
★  lwop
★  furlow
  no furlough
  excepted
  sabbatical
  furlough
  reduction in force
  laid off
  furlong
  layoffs
  lay off
  sequester

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No companions for furlough have been suggested so far.
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Google Trends

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furlough
layoff
rif