Downsizing is a process which involves reducing the number of employees on the payroll to cut costs and increase profits.
Downsizing is the permanent reduction of a company's labor force by removing unproductive workers or divisions. While it is generally implemented during times of stress and a decline in revenues, downsizing can also be used to create leaner and more efficient businesses. It can be one of the most effective ways for businesses to cut costs. For most small business owners, labor is a major expense.
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