downsizing

Downsizing refers to the process where a company reduces its workforce to cut costs or improve efficiency. This typically happens during tough economic times or when a business is restructuring. The goal is to focus on essential roles and streamline operations, which can lead to job losses. While downsizing can help a company become more financially stable, it can also have negative effects on employee morale and the community. Companies often provide severance packages and support for affected employees, but the decision to downsize can be difficult and controversial.