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downsizing
(redirected from layoff)

    Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.02 sec.

downsizing

Restructuring of an organization, usually involving a significant reduction in workforce. A popular practice during the late 1980s and early 1990s, downsizing was seen as a way to deliver better shareholder value by reducing costs, and was associated with the practice of delayering.

One person strongly associated with the practice of downsizing was US business executive ‘Chainsaw’ Al Dunlap. Management thought has moved away from wholesale downsizing as a recovery strategy although it is still practised. The stigma associated with the term has led to the use of the euphemism rightsizing (see rightsize) instead.



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? Mentioned in ? References in periodicals archive
 
Amidst all the doom and gloom predictions of big layoffs sweeping through the Southern California economy following Boeing's announcement, the impact on the more than 600 local suppliers for the C-17 appears at first blush to be fairly minimal.
632 suppliers face future without C-17 by Fine, Howard / Los Angeles Business Journal
This spring, his first book, The Disposable American, appeared, expanding on his series, describing how massive layoffs hurt individual workers, their families, their companies and their communities.
The book of jobs: a patient account of the pain of layoffs by Kusnet, David / Washington Monthly
According to an Associated Press report, the Independent Steelworkers Union has received official notification from Mittal Steel of the layoffs of approximately 800 workers, another step in the company's plan to permanently shut down the Weirton facility.
Mittal continues Weirton phase-out by Recycling Today
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