Downsizing refers to the process of reducing the size or scale of something, often in response to financial or economic pressures. In the context of businesses, downsizing typically involves reducing the number of employees through layoffs or terminations. While downsizing can sometimes be necessary to improve efficiency or reduce costs, it can also have a negative impact on employees and the overall morale of the organization.
There are a number of strategies that businesses can implement to avoid downsizing, including: