Downsizing

Downsizing is a process of reducing the size and cost of an organization by cutting staff, eliminating non-essential services, and streamlining processes. It is often used to improve efficiency and profitability, or to adjust to changing market conditions. Downsizing can involve layoffs, early retirements, or voluntary departures. It also includes changes in organizational structure, such as merging departments or closing offices. Downsizing can have both positive and negative effects on employees and the organization as a whole.