Downsizing: the Financial and Human Implications

Downsizing: The Financial and Human Implications This search examines the effects of downsize with regard to the mankind and financial implications. Since the mid to late 1980s, downsize has transformed the corporate landscape and changed the lives of hundreds of millions of individuals around the world (Gandolfi, 2008, p.3). For the purposes of this essay, curtailment is defined as the plotted elimination of jobs, involving redundancies, and is designed to break financial performance (Macky, 2004). It depart be argued that while curtailment can be an effective strategy, it frequently does not advance financial health, and the human implications can be severe and costly. This essay will discuss: first, retrenchment definitions; second, motivation for downsizing; third, a brief history of downsizing; fourth, approaches the implementation of downsizing; fifth, the human implications; sixth, the financial consequences; and, seventh, the reasons for the continued use of downsizing. There are differing perspectives regarding the downsizing phenomenon. At the most simple level, the strategy involves a planned contraction of the number of employees in an formation (Cascio, 1993).

For example, Macky (2004) describes downsizing as an intentional reduction by management of a degradeds internal labour force using redundancies (p. 2). However, opposite definitions encompass a wider range of implementation methods. Cameron (1994) defines downsizing as a set of activities, undertaken on the part of the management of an organisation and designed to improve organisational efficiency, productivity, and/or competitiveness (p. 192). These activities include hiring freezes, profits reductions, voluntary sabbaticals, exit incentives and reducing hours worked by employees. This essay will focus solely on the downsizing activity of redundancies. different synonyms exist for downsizing, including resizing, rightsizing, smartsizing, restructuring, redundancies and reduction-in-force... If you want to get a full essay, evidence it on our website: Ordercustompaper.com

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