Define "Downsizing" and Identify and Describe THREE Types of Downsizing

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The Answer is Downsizing involves activities undertaken to improve organizational efficiency, productivity, and/or competitiveness by reducing the size of the firm's workforce, the costs, and the work processes.
Three Types of Downsizing:
Downsizing strategy - is the strategy to improve an organization's efficiency by reducing the workforce, redesigning the work, or changing the systems of the organization.
a.Workforce Reduction
A short-term strategy to cut the number of employees through attrition, early retirement or voluntary severance packages, and layoffs or terminations.
b.Work Redesign
Medium-term strategy in which organizations focus on work processes and assess whether specific functions, products, and/or services should be reconfigured or changed.
c.Systematic Change
Long-term strategy that changes the organization's culture and attitudes and values of employees with the goal of reducing costs and enhancing quality.

Define "Downsizing" and Identify and Describe THREE Types of Downsizing

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