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  • Regular Features: View Demo Editorial To Our Readers Data Bank Book Summary

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    sushant_shaant
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    The document discusses the trend of employee downsizing that increased globally in the late 20th and early 21st centuries. Many large companies laid off over 100,000 employees during this period due to economic slowdowns. While downsizing helped reduce costs, it also lowered employee morale and caused uncertainty. The strategy was adopted across many major industries worldwide as companies sought to cut costs and survive economic downturns.

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    Employee Downsizing

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    The document discusses the trend of employee downsizing that increased globally in the late 20th and early 21st centuries. Many large companies laid off over 100,000 employees during this period due to economic slowdowns. While downsizing helped reduce costs, it also lowered employee morale and caused uncertainty. The strategy was adopted across many major industries worldwide as companies sought to cut costs and survive economic downturns.

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    Attribution Non-Commercial (BY-NC)
    Descărcați ca DOC, PDF, TXT sau citiți online pe Scribd
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    64 vizualizări3 pagini

    Regular Features: View Demo Editorial To Our Readers Data Bank Book Summary

    Încărcat de

    sushant_shaant
    The document discusses the trend of employee downsizing that increased globally in the late 20th and early 21st centuries. Many large companies laid off over 100,000 employees during this period due to economic slowdowns. While downsizing helped reduce costs, it also lowered employee morale and caused uncertainty. The strategy was adopted across many major industries worldwide as companies sought to cut costs and survive economic downturns.

    Drepturi de autor:

    Attribution Non-Commercial (BY-NC)
    Descărcați ca DOC, PDF, TXT sau citiți online pe Scribd
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    Regular Features January'03

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    Editorial To Our Readers

    Data Bank Book Summary

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    case study Employee Downsizing A Neela Radhi a The case examines the increasing trend of employee downsizing across the world in the !!"s and early # st century$ The case discusses in detail the downsizing concept and explores its positi%e and negati%e impact on the organization as well as the employees$ The case also examines the &'est practices( regarding downsizing pre%alent in the world and the steps downsized employees need to take in the future$ )t also discusses the growing trend of organizations adopting concepts such as flexi'le working arrangements and contingent employment* in the early # st century* to facilitate easy downsizing* when re+uired$ Next to the death of a relative or friend, there's nothing more traumatic than losing a job. Corporate cutbacks threaten the security and self-esteem of survivors and victims alike. They cause turmoil and shatter morale inside organi ations and they confirm the vie! that profits al!ays come before people. - Laura Rubach, Industry Analyst, in 1994 The market is going to determine !here !e stop !ith the lay-offs. - Tom Ryan, a Boeing spokesman, in August

    !!

    Downsizing !lues all o"er the world ,o' markets across the world looked %ery gloomy in the early # st century* with many companies ha%ing downsized a considera'le part of their employee 'ase and many more re%ealing plans to do so in the near future$ -ompanies on the "orbes ."" and "orbes #nternational /"" lists had laid off o%er 01"*""" employees altogether* during early #"" itself$ This trend created ha%oc in the li%es of millions of employees across the world$ 2any people lost their 3o's at a %ery short or no ad%ance notice* and many others li%ed in a state of uncertainty regarding their 3o's$ -ompanies claimed that worldwide economic slowdown during the late !!"s had forced them to downsize* cut costs* optimize resources and sur%i%e the slump$ Though the concept of downsizing had existed for a long time* its use had increased only recently* since the late !!"s$ 4Refer Ta'le )5$ 6nalysts commented that downsizing did more damage than good to the companies as it resulted in low morale of retained employees* loss of employee loyalty and loss of expertise as key personnel7experts left to find more secure 3o's$ 2oreo%er* the uncertain 3o' en%ironment created 'y downsizing negati%ely affected the +uality of the work produced$ 6nalysts also felt that most companies adopted downsizing 3ust as a 8me9too: strategy e%en when it was not re+uired$ ;owe%er* despite these concerns* the num'er of companies that chose to downsize their employee 'ase increased in the early # st century$ Downsizing strategy was adopted 'y almost all ma3or industries such as 'anking* automo'iles* chemical* information technology* fa'rics* <2-=* air transportation and petroleum$ )n mid9#""#* some of the ma3or companies that announced downsizing plans in%ol%ing a large num'er of employees included ,aguar 4>?5* Boeing 4>S5* -harles Schwa' 4>S5* 6lactel 4<rance5* Dresdner 4=ermany5* @ucent Technologies 4>S5* -iena -orp$ 4>S5 and =oldman Sachs =roup 4>S5$ E%en companies in de%eloping countries such as )ndia* )ndonesia* Thailand* 2alaysia and South ?orea were going in for downsizing$

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