Downsizing – Overall Impact on Workforce and Organizational Performance
Keywords:
Employee downsizing, Layoff of employees, cost optimization, RecessionAbstract
Downsizing is a process through which the current workforce is reduced who are operating on a payroll basis which is permanent in nature. The following research paper is a qualitative paper that is based on secondary data and analysis the process how downsizing is conducted in an entity and the aftermath of downsizing on the performance of the organization and the mental condition of the employees who have survived the process of downsizing. The article also highlights on comparison between different countries (developed and developing nations) rate of unemployment and factors that led to unemployment and how does it affect the economy as a whole.
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