Downsizing

Downsizing is when a company eliminates jobs and dismisses employees as a result. This is different from firing employees for poor performance. Downsized employees are eligible for government unemployment benefits fired employees are not. Following the 2008 financial meltdown, most companies responded to the loss of business by downsizing their number of employees.

KWHS Term Suggestion

Is there a term you would like defined? Suggest it here: