Downsizing

1038 Words Feb 21st, 2013 5 Pages
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
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From employee source it is found that in many cases the company is violating the Bangladesh Labor Act 2006 but the government or the labor law enforcement bureau is not taking any action.
The statistic shows that last year the company profit incensement was almost 205% and the employee of the company was suppose to get a potation of the profit as per the company policy. But it never happened. As Grameenphone’s profit already is in increase as per last year’s report than the company should provide a valid reason of termination of such a large number of employment within a short time.
Recently the management have introduces a new system of re-interview within the company to ensure the existing position of the individuals. Management has claimed this process as a part of performance evaluation tool which has made the employee to raise their voice against this injustice. By using such words like ‘Business Alignment’ and ‘Change in structure’ actually the company is terminating the employment of permanent employee who has given his 8 hours of every single day with loyalty to built this organization to this height.
Even in some cases the company had forced some of the female employee to attend the interviews during their maternity leave and terminated their employment contract as claiming the employee is less productive for the company which is a direct violation of Bangladesh labor Act 2006. Employees have claimed that the management is not

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