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In business, Downsizing refers to reducing operating costs – making a company leaner – often described as ‘trimming the fat’. This involves reducing the size of the workforce, plant closures, and making the firm’s departments more productive and efficient.
the practice of making a company or an organization smaller by reducing the number of people working for it, or an occasion when this is done: The company announced a worldwide downsizing of its operations. There have been reports of layoffs and downsizings. corporate downsizing.
May 26, 2024 · Downsizing is the permanent reduction of a company's labor force by removing unproductive workers or divisions. While it is generally implemented during times of...
Aug 15, 2024 · Downsizing is a process some businesses choose to undertake when facing financial problems or seeking to restructure their organization. During downsizing, managers and administrators maintain positive attitudes and gather information to decide how to reduce the workforce within the company.
A downsizing strategy refers to the planned elimination of positions or jobs in a company as part of a strategic initiative to improve efficiency, productivity, or profitability. In other words, it’s a cost-cutting measure implemented to reduce the size of a company’s workforce. Downsizing can occur for various reasons, including:
to move to a smaller home, usually because your home has become too large for you or as a way of saving money: Should you downsize before property prices drop? downsize from something to something My wife and I want to downsize from a 6-bedroom home to a 2-bedroom home in a 55+ community.
Mar 8, 2024 · Downsizing in business is a strategy used to enhance efficiency and cut costs, commonly employed during economic downturns. While it can yield short-term benefits, it may also have long-term consequences, affecting employee morale, productivity, and customer satisfaction.
Jul 22, 2020 · Downsizing is a reduction in a company's workforce to save money. The federal WARN Act requires companies with more than 100 employees to provide 60 days' notice of mass layoffs. If your company doesn't fall under WARN Act guidelines, you may not receive much notice if your company downsizes.
1. to reduce the operating costs of a company by reducing the number of people it employs. Compare rightsize. 2. (transitive) to reduce the size of or produce a smaller version of (something) 3. (transitive) to upgrade (a computer system) by replacing a mainframe or minicomputer with a network of microcomputers.
Downsizing definition: the act or process of reducing the number of something, such as employees or participants, usually as a cost-cutting measure. See examples of DOWNSIZING used in a sentence.
