Downsizing
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U.S. businesses and their workers are experiencing the greatest number of job losses since the Great Depression. Even as GDP grew at a phenomenal 8.2 per cent, unemployed “workers aren’t being called back and the employment numbers did not budge,” (Coxe 37). Widespread agreement among economists supported the contention that big job gains would be posted last December. Many predicted job gains of 150,00-200,000, but when the actual report was released only 1,000 new jobs were posted in a workforce of more than 147 million (Coxe 37). In an effort to remain competitive on a global scale, once stalwart companies like Kodak, IBM, and others have implemented massive downsizing efforts and have transferred many positions offshore to take advantage of less expensive labor in Asia, India and other countries. This is true not only for low-end positions but increasingly true for high-end positions as well. Economic experts like Alan Greenspan argues such moves are a result of greater productivity with fewer employees from heavy investment in technology. Employees argue those left behind are burdened by increased workloads, loss of benefits, and executives who receive enormous bonuses because of sales growth that are the result of savings in labor costs and not increased productivity or sales. Despite President Bush’s controversial tax cuts, a federal deficit of more than $500 billion, and Greenspan’s lending of Federal Reserve money at one per cent i
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osts to make way for additional growth opportunities for the company and those remaining.
Few employees who are about to lose their jobs will be motivated to perform on a high level. This is particularly true if labor cuts have already caused loss of morale and motivation among remaining employees. Therefore, in order to motivate employees during this period the effective manager will be adept at paying particular attention to the needs and goals of employees. For example, it is difficult to be motivated to perform on a high level at work if one is anxiety ridden and demoralized over the anticipated loss of one’s job and income. Because of this, the manager must first put into place a job placement and counseling service that will support employees who are scheduled to lose their jobs. This service could be provided by the company as a means of helping loyal employees with opportunities to support themselves, while raising motivation and morale among those remaining with respect to performance and productivity. For example, Landry reports that “most large companies did so much hiring after their layoffs of the 1990s that they ended up at least as big as they were before making the cuts,” (39). Such information will help
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Some common words found in the essay are:
Joseph Schumpeter, Wall Street, IBMs Kodaks, Federal Reserve, Business Review, Medical Journal, Bill Marketing, Kodak IBM, Alan Greenspan, IBM Kodak, newman 36, coxe 37, massive downsizing, creative destruction, job gains, conventional film, increased competition, global scale, 15 2004, lay offs, heavy investment technology, newman 36 ibm, competition global scale, increased productivity sales, newman 36 companies,
Approximate Word count = 2479
Approximate Pages = 10 (250 words per page)
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