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Corporate Downsizing
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By NA - The long term effect of corporate downsizing has affected the way organizations are managed. This research looks at the economic problems facing the downsized organization and the psychological impact affecting the retained employees and the terminated workers. pop (Added: 15-Oct-2002 Hits: 567 )
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Corporate downsizing is bad for society as a whole, according to new research by Jan Boone, published in the latest issue of the Economic Journal. The costs to the fired employees outweigh the gains for firms. And what is more, downsizing increases unemployment and reduces economy-wide growth.
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During the mid-1990s, 1 in 16 workers were displaced by downsizing, reorganization, or corporate mergers and acquisitions. Ruth Luban, a counselor who specializes in recovery from job loss, recognizes that leaving the workforce causes not only a loss of income, but ... of identity, structure, and community. Her step-by-step program addresses these problems and explains how to work through them. Using case studies, exercises, and informative sidebars, she identifies the five emotional stages of job loss:
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Touted as the leader in entrepreneurship primarily in its franchise forms, franchising in the United States is made more popular as corporate downsizing continues. Providing a credible platform to stimulate such entrepreneurial activities is Global Franchising2002. 2002-06-13
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Downsizing initiatives are ... associated with corporate takeovers. For example, Deutsche Bank cut 5,500 jobs in New York and London as part of its takeover of Banker's Trust. Similarly, Seagram Co. cut 20 percent of Polygram NV's work force, or some 3,000 jobs.
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Downsizing is very common in corporate business in the United States. In fact, there are fifty percent (50%) more victims of downsizing in the United States every year than there are victims of violent crime.(25) Downsizing is so common in the United States that the United States Bureau of Labor Statistics publishes quarterly statistical reports on 'mass layoffs.' More than forty-three million jobs have been lost to downsizing since 1979.(26) Furthermore, seventy-five percent (75%) of households have had a close encounter with downsizing since 1980, and one-third of people have actually lost a job because of downsizing. Another forty percent (40%) know someone who has lost a job due to downsizing. Despite these alarming figures, since 1979, there has actually been a net gain of over twenty-seven million jobs in the United States.(27)
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Corporate Downsizing