The Term Downsizing Described Workforce Reductions Undertaken by Many Corporations

question 7

True/False

The term downsizing described workforce reductions undertaken by many corporations in the 1990s to reduce their expenditures in hopes of competing in the global economy.

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Definitions:

Financial Disadvantage

A situation in which a person or entity is at a deficit compared to others in terms of financial resources or capabilities.

Variable Expenses

Expenses that vary in relation to a company's operations.

Fixed Expenses

Expenses that remain constant regardless of production or sales volume, including items like lease payments, employee wages, and insurance costs.

Financial Advantage

The benefit gained from making economic decisions that result in increased wealth or financial health.