corporate downsizing

Corporate downsizing refers to the strategic reduction of a company's workforce or operations to improve financial performance. This often involves layoffs, closing facilities, or consolidating functions to cut costs, enhance efficiency, or adapt to market changes. While it can help a company stay competitive and financially healthy, it can also impact employee morale and community stability. Downsizing is typically a deliberate decision made by management after evaluating the company's current and future needs to ensure long-term viability.