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What Is Downsizing and How Is It Best Done? List

question 7

Essay

What is downsizing and how is it best done? List and describe four ways of choosing who gets targeted during a downsizing.


Definitions:

Preexisting Duty

Preexisting Duty is a legal principle stating that an action or service required by an existing contract cannot serve as consideration for a new contract.

Promissory Estoppel

A doctrine that applies when a promisor makes a clear and definite promise on which the promisee justifiably relies. Such a promise is binding if justice will be better served by the enforcement of the promise.

Promisor

An individual or entity that makes a promise to perform an act or fulfill an obligation as specified in a contract.

Obtained

Acquired or secured something, typically through purchase, request, or effort.

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