Firms downsize as a response to organizational bankruptcy or recession It has occurred on both private and public sectors Statistics: The U.S. Bureau of Labor Statistics reported that more than 4.3 million jobs were cut between 1985-1989. The New York Times states that more than 43 million jobs had been eliminated between 1979-1996.
Hennessy Honda provided a Human Resource plan to announce the companies downsizing preparations
Hennessy Honda wanted to ensure that the stress from the downsizing wouldn’t impact the employees physical and mental state therefore they gave them a free month to the neighboring gym to persuade a healthier lifestyle
Weekly Saturday meetings with manager Reducing stress Voicing opinions and concerns
How much downsizing is enough? 10-12 laid off out of 115 employees
Downsizing remains complex Most firms adopting downsizing strategies do not reap economic and organizational benefits There is no empirical evidence to suggest a correlation between downsizing and improved financial performance Affects the entire workforce, survivors, victims, and executioners, in a most profound manner Five lessons can help to strategize the downsizing process
Annual Editions Business Ethics 10/11 by Richardson Article 20 pg. 66-75 BNET Business Dictionary, http://dictionary.bnet.com/definition/human+resource+plan ning.html, Date Viewed: May 24, 2010 http://dictionary.bnet.com/definition/human+resource+plan ning.html Hennessy Honda, http://www.hennessyhonda.com/new- inventory/index.htm?reset=InventoryListing&invType=new&S Byear=2010&SBmake=Honda&SBmodel=Accord%20Crosst ou, Date Viewed: May 24, 2010http://www.hennessyhonda.com/new- inventory/index.htm?reset=InventoryListing&invType=new&S Byear=2010&SBmake=Honda&SBmodel=Accord%20Crosst ou Merriam-Webster, http://www.merriam-webster.com/, Date Viewed: May 21, 2010http://www.merriam-webster.com/ YouTube, http://www.youtube.com/watch?v=4nD40I4gGzQ, Date Viewed: May 24, 2010http://www.youtube.com/watch?v=4nD40I4gGzQ