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Managing Downturn without Downsizing (A): US Financial Crisis and Layoffs
Abstract:
Globalisation has inextricably linked operations of several of the economies of the world with that of the US. Any major change either positive or negative reflects equally on these economies. The impact of the 2008 US financial crisis on these economies is no different threatening to push them into recession. In such circumstances companies across the world have announced massive job cuts to mitigate the impact of the crisis and also to ensure their survival in the long run. But is crisis the right time to employ such cost cutting strategies? The case focuses on the impact of globalisation on various companies in light of the current financial crisis. It also debates on whether layoffs are the only way to address the problems faced by these companies.
Is downsizing the only cost-cutting tool for companies to manage during troubled times? What would be the impact of job cutting on existing employees? Will they able to give their best?
Pedagogical Objectives:
- To understand the nature, extent and intensity of job losses resulting out of US financial crisis
- To examine the impact on industries – those industries that are impacted directly and those which were indirectly impacted
- To analyse and debate on the role of downsizing as a cost-cutting tool
Course: Strategic Management
Concept: Managing troubled times
Key focus: Talent management
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