Downsizing

Downsizing refers to the process of reducing the size of an organization or its workforce, often as a strategic move to improve efficiency, cut costs, or adapt to changing market conditions. This can involve laying off employees, restructuring departments, or closing certain operations. While downsizing can help a company streamline operations and focus on core activities, it can also lead to negative consequences such as decreased employee morale, increased workload for remaining staff, and potential loss of valuable skills and knowledge. It's crucial for organizations to manage downsizing carefully to minimize its impact on employees and maintain productivity.