Essay on Downsizing: Fiduciary and Great Harm

For this example I would say that the employees have a right to know that downsizing is a risk and be informed as to what the company has done to cut costs in other areas to prevent having to reduce their workforce. The more informed staff is the more accepting they may be if downsizing affects them. By keeping

By changing the ways of how the company operates and the rate of compensation it

The other fundamental issue that Charles raises is the treatment that the employees get from both the law and the proprietors/accounts. He says that employees in most instances are treated as property that belongs to the owner of the business and recorded as costs (salary/allowances) and not as assets. This effectively means that they are treated as things that are supposed to be minimized just like any other costs. This is a trend that needs to be changed and the employees need to be treated as cherished community together with the proprietors and the stakeholders. It should be a community that has members who are proud to be members of that particular community, allowed to express their views on issue related to them and the organization and generally have a free environment to

Swatridge realizes the company is not being as efficient as they could be and downsizing is a strategy to keep costs down. Employees throughout the company are aware of this possibility and are constantly concerned about their job security. The uneasiness about not knowing whether layoffs are coming or not has younger employees worried about losing their jobs, older employees wanting to take early retirement, and skilled employees thinking about switching jobs. With the threat of downsizing looming throughout the company, employees are worried about job security, especially ones who have no other skills and would be hard for them to find a new job. There is a lack of communication between managers and workers which is affecting employee morale.

While the obvious reasons for headcount reductions are lackluster performance and shrinking assets under management (AUM) but, the root causes are deeper still.

Have you or someone you know ever been replaced or laid-off from a job due to a downsizing? With technology becoming ever popular in today’s world chances are your answer to that question is YES. If you, yourself, have not been replaced there is a very high possibility that someone you have become acquainted with over the years has been. In this age of rapidly advancing technology, humans just simply are not needed to complete certain jobs as they have been in the past. Of course, there are still jobs available that a machine just simply cannot do but most jobs have since succumbed to modern technology and

Downsizing is never easy on the Human Resource department. In fact, if not handled properly, it could be detrimental to the overall organization. Here are some challenges that come along with downsizing: Addressing the shifting morale and needs of the surviving employees, maintaining the productivity and profitability of the organization, and retaining skilled, and qualified employees.

A corporation needs to have a strategic plan in place in order for them to be able to implement a downsizing. There are many pros and cons to downsizing and it has a ripple effect on everyone in the corporation. Depending on the planning of the downsizing, one of the big issues to decide on is how to choose who will be terminated. For example, do you go by seniority, a percentage from all departments, an entire department, or by job level or position? These are major options that need to be addressed before anything happens. Most corporations today exist less for the well being of employees than they

All over the globe retaining employees is a most critical factor for the organisations. High employee turnover is more common in private sector as compared to public. In construction industry, to reduce employee turnover and to improve the productivity of an organisation, organisations have to be aware of the reasons why an employees quit the organisation?. Employee turnover can be explained as the expenses, in term of money, time, and quality of work, that an organisation bear while replacing an employee. If an organisation fails to satisfy the needs of its employees then it is obvious that the employees will look forward to fulfill their necessities. This chapter discuss the reasons why employees quit their jobs.

How do you connect downsizing, which is one of a number of actions being taken, with corporate culture, which is only one of a number of "crises" being solved in a manner and to a level that establishes a positive relationship?

Downsizing has become a commonplace strategy for organizations to adopt in an effort to cut costs, eliminate redundancies, and streamline organizational systems. Over the last 15 years, many organizations have engaged in downsizing more than once. Most companies have learned from the mistakes of the past, but some companies are still trying to use the same tactics today that were used in the mid 1980s, that leave employees reeling.

The firm’s goal is to maximize profits and minimize losses at any costs. The firm conducts an unannounced massive layoff and eighty percent of the employees are laid off. This shows the firm’s view that individual employees are just like disposable items. Employees could be thrown away whenever they no longer benefit the firm and could easily be replaced by someone else. Human beings are used only as tools to keep a company running until they get rusty and are no longer needed. The movie progresses as the remaining employees meet with the senior executives when the initial stage of 2008 financial crisis finally hits. Many workers, especially the ones higher on the hierarchy, are concerned only by the welfare of their corporations. The division head Jared Tuld and the CEO Cohen even suggest ways to protect the company such as passing off the “toxic assets”, whose values have fallen significantly and are no longer functioning in the market to their loyal customers, who “ wander around with absolutely no idea what is about to happen,” to limit the firm’s exposure before the market learns of the worthlessness of their financial assets.

|companies adopt practices that eliminate or reduce potential problems, including open communications, fair severance |

The employees are a big part of the company and they should stay together in order to solve the crisis. For example in the second problem that Coke confronted was because of their employees.

Downsizing, restructuring, rightsizing, even a term as obscure as census readjustment has been used to describe the plague that has been affecting corporate America for years and has left many of its hardest working employees without work. In the year 2001 we had nearly 1.8 million jub cuts, that’s almost three times as much as the year 2000(Matthew Benz). In the 1990's, one million managers of American corporations with salaries over $40,000 also lost their jobs. In total, Fortune 500 companies have eliminated 4.4 million positions since 1979 including the 65,000 positions cut in February of 2002 (Ellen Florian). Although this downsizing of companies can have many reasons behind it and cannot be