Globalization and Downsizing in IndiaDownload PDF
The post slow down effect, that came after the subprime crisis and going down of the big ticket finance companies like Lehman, Fannie Mae and Freddie Mac had a huge ripple effect all around the globe. This global meltdown is now being considered as the biggest meltdown after “The Great Depression” that began in 1929. This is certainly the gravest and biggest one as it directly impacted many more economies and people (directly and indirectly) than any economic crisis ever did in the human history. Downsizing is currently one of the most popular strategies being used by organizations in an effort to survive and compete in the current business scenario. After reviewing many literatures, we find that there is a need to study the various aspects of downsizing such as why downsizing, reasons of downsizing, downsizing in India, downsizing in today’s corporate, effect of downsizing on employees, strategies of downsizing, difference between downsizing and rightsizing and government actions taken for laborers and employees during downsizing. Suggestions for future research in this area, especially in the Indian context, have been identified with a view for adding to the existing body of knowledge and also facilitate greater understanding on the part of practitioners in handling a downsizing exercise.
Keywords: The Great Depression, Downsizing etc