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Restructuring Essay Topics & Paper Examples

Layoff and Strategic Downsizing Decisions

INTRUDUCTION Downsizing is a permanent reduction of workforce through layoffs and other means. Organizations usually downsize to save payroll costs and prevent bankruptcy during tight economic conditions. Downsizing, when done right, makes the organization more efficient, lean, and mean .On the other side, a faulty approach to downsizing can cause the organization to run the risk of losing key talent and intellectual capital, and becoming dysfunctional by breakdown of hierarchies and systems. The criteria adopted for who stays and who goes largely determines the success of the downsizing intervention Many organizations, especially traditional ones, in a bid to ensure impartiality and objectivity adopt the LIFO or “Last in First Out” principle whereby those who joined the organization last become the…