Question

What does downsizing mean in business studies

Answer 1

In business studies, downsizing refers to the process of reducing the size of a company or organization in order to cut costs, increase efficiency, or adapt to changes in the market. This typically involves reducing the number of employees, closing or selling off unprofitable divisions or branches, and streamlining operations. Downsizing can be a result of factors such as economic downturns, technological advancements, mergers and acquisitions, or a need to stay competitive in the market.