Part 1: Introduction
What is Workforce Reduction? It is an act when an organization terminates an enormous number of its employees to reduce the cost. Downsizing, reductions in force, layoff, reorganization, or restructuring are some other terms or actions of workforce reduction. However, workforce reduction involves permanent termination of employment whereas some other actions might be a temporarily suspension of the employment. This method was introduced during the recession of 1980s and 1990s and became the most commonly used method to cut the costs. Some other methods of workforce reduction are as following:
Reducing the amount of work hours available for employees
Shifting employee tasks to reduce the number of worker positions
Instituting …show more content…
Canada’s trade surplus, meanwhile, with the United States — this country’s largest trading partner — shrank to $3.4-billion in February from $3.9-billion, with exports falling 1.1% and imports rising0.8%.
The trade shortfall with nations other than the U.S. narrowed to $4.4-billion from $4.6-billion in January. Exports rose 0.9% and imports declined by the same measure.(GORDAN ISFELD. 2014)
This has indicated that workforce reduction has an impact on almost all industries.
Causes of Workforce reduction
Workforce reduction may occur for several reasons, including changes in economic markets, poor management, new technology, government interference, offshoring, employee leasing, outsource, merging or other factors which may cause workforce reduction. When directors of the organization try to reduce the cost they implement some of these factors which become the reason of laying-off. Let’s discuss briefly about two of these factors: new technology and …show more content…
They must consider that no employment discrimination took place against protected classes such as: race, origin, religion, gender, age and disability. For example, if a company fires a certain group of people from protected class (age) then the company is responsible for discrimination even though they do not intend to do so. They might have to face a lawsuit for being responsible of doing discrimination.
Part Three
Workforce reductions are refer to both layoffs and downsizing terms. It’s about that companies make in the number of employees on the payroll, although the term "layoff" is used more often to involve temporary displacement, while "downsizing" generally has more permanent effects. Other relative terminologies include reductions in force (RIF), right-sizing, restructuring, and reorganization. In such conditions, employee terminations are usually the result of surplus labor caused by economic factors, poor management, changing markets, or some other factor unrelated to worker behavior.
What is Workforce Reduction? It is an act when an organization terminates an enormous number of its employees to reduce the cost. Downsizing, reductions in force, layoff, reorganization, or restructuring are some other terms or actions of workforce reduction. However, workforce reduction involves permanent termination of employment whereas some other actions might be a temporarily suspension of the employment. This method was introduced during the recession of 1980s and 1990s and became the most commonly used method to cut the costs. Some other methods of workforce reduction are as following:
Reducing the amount of work hours available for employees
Shifting employee tasks to reduce the number of worker positions
Instituting …show more content…
Canada’s trade surplus, meanwhile, with the United States — this country’s largest trading partner — shrank to $3.4-billion in February from $3.9-billion, with exports falling 1.1% and imports rising0.8%.
The trade shortfall with nations other than the U.S. narrowed to $4.4-billion from $4.6-billion in January. Exports rose 0.9% and imports declined by the same measure.(GORDAN ISFELD. 2014)
This has indicated that workforce reduction has an impact on almost all industries.
Causes of Workforce reduction
Workforce reduction may occur for several reasons, including changes in economic markets, poor management, new technology, government interference, offshoring, employee leasing, outsource, merging or other factors which may cause workforce reduction. When directors of the organization try to reduce the cost they implement some of these factors which become the reason of laying-off. Let’s discuss briefly about two of these factors: new technology and …show more content…
They must consider that no employment discrimination took place against protected classes such as: race, origin, religion, gender, age and disability. For example, if a company fires a certain group of people from protected class (age) then the company is responsible for discrimination even though they do not intend to do so. They might have to face a lawsuit for being responsible of doing discrimination.
Part Three
Workforce reductions are refer to both layoffs and downsizing terms. It’s about that companies make in the number of employees on the payroll, although the term "layoff" is used more often to involve temporary displacement, while "downsizing" generally has more permanent effects. Other relative terminologies include reductions in force (RIF), right-sizing, restructuring, and reorganization. In such conditions, employee terminations are usually the result of surplus labor caused by economic factors, poor management, changing markets, or some other factor unrelated to worker behavior.