This is a term that has been used for quite some time. It is a ‘polite’ word for the process of sacking staff, usually in order to reduce overheads. Alternatives are 'Change Management Exercise', 'Redundancy Project', 'Business re-organisation', 'Downshifting', 'Business Process Re-engineering' 'Rightsizing'...
In today's working environment downsizing is a very common occurrence but our experience over the past few years shows that whereas downsizing used to always involve significant numbers of staff, nowadays there is a lot of regular 'trimming' that occurs which involves perhaps just a few staff at a time to ensure an organisation maintains a lean approach.
The legal process for downsizing is onerous, therefore take care not to expose your business to unnecessary financial risks. Always check your understanding of the current process required.
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