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What does the word Downsizing mean?

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Anonymous

12y ago
Updated: 8/20/2019

it literally means to go down in size. For example, if you were moving to a smaller house than your previous house, you would be downsizing.

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12y ago

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Downsizing is the process of reducing the number of workers in a certain firm. There are a lot of reasons why a firm undergo into downsizing. One reason is to minimize the cost, and to increase productivity. This practice has its own disadvantages and advantages, let us first discuss some of the disadvantages of downsizing. First is that downsizing forces re-thinking of employment strategy, lifelong strategy will no longer be effective after a downsizing. Next, violation of psychological contract, simply because due to downsizing the workers lower their work commitment.If their are disadvantages of downsizing their are also advantages out of this practice. Changes in Strategy,Organization structure and Culture accompany job cuts of downsizing.


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Why is Chrysler downsizing in jobs?

Chrysler is downsizing jobs so that they can stay competitive in the global market by reducing costs. By downsizing they save on paying weekly wages, health care , and other benefits.


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