Answer
Downsizing is a strategic organizational decision to reduce the size of a company, often by eliminating jobs, departments, or divisions. It is typically done to streamline operations, cut costs, and improve efficiency, but it often results in job losses for employees. Downsizing can also involve outsourcing certain functions or restructuring the company to become more competitive in the market.
Work Step by Step
Downsizing is a strategic organizational decision to reduce the size of a company, often by eliminating jobs, departments, or divisions. It is typically done to streamline operations, cut costs, and improve efficiency, but it often results in job losses for employees. Downsizing can also involve outsourcing certain functions or restructuring the company to become more competitive in the market.
