HR Word of The Day
#HR Word: #Downsizing
Downsizing refers to the process of reducing the size of workforce by terminating the employment of employees. It is also referred as layoff. Downsizing is common in a recessionary situation […]
Downsizing refers to the process of reducing the size of workforce by terminating the employment of employees.
It is also referred as layoff.
Downsizing is common in a recessionary situation where downsizing helps to cut costs.
Some companies also layoff a percentage of low performers every year to maintain a competitive and efficient work force.
Employees asked to exit are often compensated by paying a fixed amount or a few months salary.
Downsizing not only affects the employees who have to exit the company, but also the remaining employees who may fear themselves to be in a similar situation at a later time.
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Myself Manish Pipalwa, an HR Professional with with more than 9+ years of Experience in Recruitment & Sourcing.
Currently employed with Eaton Corporation as Talent Acquisition Consultant- Supporting Hiring for 2 Major Business Units Relating to Finance & Supply Chain Domin.
Prior to Eaton, was associated with Mphasis as Assistant Manager- Talent Acquisition.
My Interest are Networking , Travelling and in Social Media
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