Downsizing occurs when a company permanently reduces its workforce. Corporate downsizing is often the result of poor economic conditions or the company’s need to cut jobs in order to lower costs or maintain profitability. Downsizing may occur when one company merges with another, a product or service is cut, or the economy falters. Downsizing also occurs when employers want to “streamline” a company – this refers to corporate restructuring in order to increase profit and maximize efficiency. Downsizing results in layoffs that are often followed by other restructuring changes, such as branch closings, departmental consolidation, and other forms of cutting pay expenses. In some cases, employers are not fired, but instead become part-time or temporary workers to trim costs. In a business enterprise, downsizing is reducing the number of employees on the operating payroll. Some users distinguish downsizing from a layoff, with downsizing intended to be a permanent downscaling and a layoff intended to be a temporary downscaling in which employees may later be rehired. Businesses use several techniques in downsizing, including providing incentives to take early retirement and transfer to subsidiary companies, but the most common technique is to simply terminate the employment of a certain number of people. Recentll, country's largest cell phone company Grameenphone, has embarked on major operational cost-cutting measures that include the downsizing of its manpower in some specific sections of the company.
GrameenPhone is the largest mobile phone company in Bangladesh. In the midst of lack of communication means, GrameenPhone has introduced an effective and user-friendly mobile phone network. It has put a positive impact on the lifestyle of the people of Bangladesh.It is one of the largest cellular operator in the country. It is a joint venture enterprise between Telenor and Grameen Telecom Corporation. Telenor is the largest telecommunications...
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