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| Author: | Hardy, C. |
| Title: | Investing in retrenchment : avoiding the hidden costs. |
| Journal: | California Management Review
1987 : SUMMER, VOL. 29:4, p. 111-125 |
| Index terms: | BUSINESS CLOSURE USA |
| Language: | eng |
| Abstract: | Closing business and laying off excess personnel has long been regarded as a managerial prerogative in the US. Employers have often taken advantage of the lack of government regulation to lay off employees as quickly and cheaply as possible. British and Canadian experiences show a number of factors which give rise to hidden costs. Union resistance, impact on continuing employees, unfavourable publicity are mentioned for example. The study of ten organizations which were faced with a variety of "downsizing" exercises has identified nine managerial tasks which are crucial for successful retrenchment. This can be seen as an investment into future viability. |
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