Results for tag: "Downsizing"

Downsizing is a management strategy used to reduce the size of a company's workforce. It is often used to reduce costs, improve efficiency, and increase profitability. Downsizing can involve reducing the number of employees, eliminating certain departments, or restructuring the organization. It can also involve reducing wages, benefits, and other forms of compensation. Downsizing can be a difficult decision for a company, as it can have a negative impact on morale and productivity. There are a number of companies that specialize in downsizing services. These companies provide consulting services to help companies identify areas for cost savings and develop strategies for reducing their workforce. They also provide support to employees affected by downsizing, such as career counseling and job placement services. Examples of companies in the downsizing market include Right Management, Challenger Gray & Christmas, and Lee Hecht Harrison. Show Less Read more