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Downsizing

Wikis > Downsizing

Downsizing is the permanent reduction in an organization’s workforce. It occurs when an organisation is looking to reduce the number of its employees through restructuring in order to increase profit and maximize efficiency. It may also result from a merger of two companies, or when a company cuts a product line or service, and can be the result of poor economic conditions.

References:

Boyd, Sandra and Kim Spurgeon, “Lifelong Career Management.” In Blythe C. Shepard and Priya S. Mani (editors). Career Development Practice in Canada: Perspectives, Principles and Professionalism. Toronto: Canadian Education and Research Institute for Counselling (CERIC), 2014, p.406.

Doyle, Alison. “What is Downsizing?.” About Careers. Online: http://jobsearch.about.com/od/jobsearchglossary/g/downsizing.htm (Retrieved on August 14, 2014)

Human Resources Institute of New Zealand (HRINZ). “Downsizing.” Human Resources Knowledge Base. Online: http://www.hrinz.org.nz/Site/Resources/Knowledge_Base/A-H/Downsizing_.aspx (Retrieved on August 14, 2014)

Merriam-Webster Dictionnary, “Downsize.” Online: http://www.merriam-webster.com/dictionary/downsize (Retrieved on August 7, 2014)

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