Explain Downsizing and Discuss the Major Reasons Why Organizations Engage

question 28

Essay

Explain downsizing and discuss the major reasons why organizations engage in it. Explain why downsizing strategies are or are not generally successful.

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Definitions:

Routine Activity

Regular, customary actions or practices that are often predictable and performed as a part of one's daily or regular schedule.

Payroll

The total amount of wages or salaries paid by a business to its employees, as well as the process of calculating and distributing these payments.

Transactional

Pertaining to the conduct of business, especially routine activities involving the transfer or exchange of goods and services.

Talent Management

A strategic approach to attracting, developing, and retaining skilled employees to meet organizational needs.