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date: 26 September 2020

downsizing 

Source:
A Dictionary of Business and Management
Author(s):

Jonathan Law

A reduction in the size of an organization, especially by cutting the number of direct employees. The main purpose of downsizing is to improve profitability by reducing costs, although there may also be gains in both focus and flexibility. Apart from the damage to staff morale, the main danger is that the loss of experienced employees will lead to loss of customers and ‘business memory’. ... ...

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