Pressure, job losses, make-or-break seasonal events (4-4)
I believe the answer is:
play-offs
'seasonal events' is the definition.
(type of sporting fixture, eg in a football season)
'pressure job losses' is the wordplay.
'pressure' becomes 'p' (abbreviation).
'job losses' becomes 'lay-offs' (redundancies or sackings).
'p'+'layoffs'='PLAY-OFFS'
'make-or-break' is the link.
I am not very happy about this link. It may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for play-offs that I've seen before include "Final competitions to determine the championship" , "End of season matches between promotion contenders?" .)