downsizing in indian organisation case study on boeing company

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    [Type text] Page 1

    Project on

    ‘IMPACT OF DOWNSIZING IN INDIANORGANISATION’

    Submitted to :- Submitted by :-

    Mrs.Shanu Khatri Jyotsna Aggarwal

    Date :- 2 Feb.,202 !!A. ""!. 2nd yr

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    Acknowledgement

    I would like to express my sincere gratitude to Mrs. Shanu Khatri for

    providing this opportunity to work on this topic. She has always been

    Supportive and encouraging.

    I have really enjoyed to working on this project.

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    CONTENTS

    Index  Page No.

    Introduction

    Study of downsizing

    Why Do Organiation! Down!ie

    !he "conomic #erspective

    !he $rational #erspective

    !he Ideological #erspective

    !he Institutional #erspective

    !he Strategic #erspective

    Con!e"uence! o# Down!iing

    !he Structural %onse&uences of 'ownsizing

    Macroeconomic conse&uences of 'ownsizing

    Strategie! #or re!$on!i%le re!tructuring

    "xecutive (verview

    !he "conomic )ogic !hat 'rives 'ownsizing

    *hat 'oes +esearch on the "conomic %onse&uences of "mployment 'ownsizing !ell ,s

    I!!ue! In Initiating And Im$lementing Down!iing

    #re-downsizing Stage

    #re-implementation Stage

    Implementation Stage

    #ost-implementation Stage

    Solution o# Down!iing

    &oeing Com$any

    Introduction

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    Successful 'ownsizing !he %ase of the /oeing +eemployment #rogram

    Why &oeing Com$any Down!ie'

    !he evidence noted by #ritchard and Mac#herson

    Doing Well &e#ore

    An e##ecti(e Cure

    Ad(antage! ) Di!ad(antage! o# Down!iing

    Conclu!ion

    &i%liogra$hy

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    Introduction*

    %ompanies should take care that downsizing helps in shedding fat and not the

    organizational muscle. 0urther1 downsizing should not be mistaken to be strategy2 it is a

    tactic1 it is like giving oxygen to accompany in an intensive care unit. !he new size gives a

    second chance to companies to survive and an opportunity to start afresh. 3owever done

    improperly it can be a death sentence for the company. +esearch data on the impact of

    downsizing on company revival is not encouraging. !his is because the manner in which

    downsizing typically happens1 does not enable growth. $ ten year study of companies in ,S

    and %anada showed that companies that downsized were relatively worse off than

    companies that did not. !his was partly because companies do not seem to have got it right

    on how to down size when in trouble so that they can 4+(* in future. Indian companies

    can benefit by rethinking the process of planning and implementing downsizing in a systemic

    manner. /ased on our global and Indian experience in providing consulting support to

    companies that are downsizing1 we have identified eight steps that greatly impact the value

    realization from downsizing.

    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. It has been considered from

    economic1 institutional1 strategic1 ideological1 and a rational perspectives1 suggestions for

    successful downsizing strategies have repeatedly reinforced the importance of adopting a

    planned1 long-term1 and people-oriented approach to implementation. !he bulk of empirical

    research1 however1 appears to have focused on the conse&uences of downsizing both at the

    individual and organizational level. 4iven that downsizing today has achieved the status of

    an institutionalized norm1 the relevant &uestion is not so much whether or why organizations

    should downsize1 but rather1 how best to implement the process in a way which will enable

    organizations to accrue benefits and effectively manage the negative conse&uences of such

    an exercise.

    A review of literature reveals that a planned approach to the implementation process would

    lead to sustained and long-term benefits to the organization. 'rawing from change

    management theories as well as related theories in organizational learning1 theory of

    business1 and business model innovations1 this paper has attempted to identify issues that

    need to be addressed at each stage of downsizing in order to ensure effective

    implementation. $t one level1 this would imply a need to &uestion the very rationale for

    downsizing in terms of whether it really is the best alternative under the existing situation. $t

    another level1 assuming that downsizing has been accepted to be the most viable option1

    and given that any successful planned change would need to be handled as a multi-stageactivity1 this would include

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    reframing of the existing mental models and assumptions about the business

    extensive communication with employees at each stage

    managing the needs and expectations of survivors1 victims1 and implementers

    themselves planning for employability initiatives for employees

    helping employees to renegotiate their existing psychological contract with the

    organization.

    !his would necessitate bringing about a change in the mindsets and attitudes of the people

    involved in the exercise. Moreover1 a downsizing exercise would also need to be

    implemented as a part of an overall corporate renewal package rather than as an isolated

    strategy on its own. Suggestions for future research in this area1 especially in the Indian

    context1 have been identified with a view to adding to the existing body of knowledge and

    also facilitating greater understanding on the part of practitioners in handling a downsizing

    exercise.

    ST+D, O- DOWNSIIN/

    In tandem with the rise in its popularity1 a substantial body of literature has also developed

    exploring various aspects of downsizing. *hile some studies have attempted to understand

    the theoretical imperatives which motivate organizations to downsize1 others have studied

    the possible conse&uences that downsizing might have on the individual employee as well

    as on the organization as a whole. $ few studies have also tried to examine the various ways

    in which downsizing can best be implemented in order to yield the maximum benefits to the

    organization. /roadly1 therefore1 the study of downsizing till date appears to have

    encompassed three major issues

    *hy do organizations downsize

    *hat are the conse&uences of downsizing on the individual and the organization as

    a whole *hat are the strategies that can be adopted for successful downsizing

    0ea!on! #or Organiation! Down!ie

    +esearchers have approached this &uestion from a variety of perspectives ranging from

    economic imperatives and market constraints1 approaches based on organizational theories1

    and ideological motivations to social compulsions. Kets de 5ries and /alazs 67889: feel that

    downsizing is often a price paid by organizations for previous mismanagement and strategic

    errors in reading the market by the top management. $ccording to ;elson and /urke 6788

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    service sector coupled with global benchmarking with competitors in terms of overhead costs

    are some of the market forces that have motivated organizations to resort to downsizing.

    Some organizational benefits expected from downsizing may include increase in productivity1

    improved &uality1 enhanced competitive advantage1 potential regeneration of success

    6;elson and /urke1 788

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    downsizing. 3owever1 his propositions might have been better strengthened by more

    empirical bases rather then relying substantially on data from the popular press.

    The Ideological Per!$ecti(e $dding ideological variables to the list of possible determinants of downsizing1 McKinley1

    Mone and /arker 6788right1= in this

    case1 getting smaller by reducing the workforce. %loning forces result from imitating

    competitors and following their actions irrespective of whether their strategies have proved

    beneficial or not. Since downsizing has become the order of the day1 imitating competitors in

    this respect imparts some legitimacy to the manager. 0inally1 learning forces occur through

    educational institutions and professional associations where the effectiveness of the

    downsizing approach is further reinforced. !he concepts of constraining1 cloning1 and

    learning forces are e&uivalent to the institutional theoretic concepts of coercive isomorphism1

    mimetic isomorphism1 and normative isomorphism respectively1 which explain how

    organizations strive for legitimacy.

    The Strategic Per!$ecti(e

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    'ewitt 6788

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    The Structural Consequences of Downsizing

    !his paper examines the impact of downsizing strategy on dimensions and types of

    organizational structure. 0our downsizing strategies are developed to address organization

    and environment decline. ,nderstanding where and how these strategies modify an

    organizationFs activities helps clarity how downsizing impacts organization structure.

    #ropositions are offered that show how downsizing can result in both mechanistic and

    organic shifts in organization structure.

    Mechanistic shifts are caused by downsizing strategies that increase the domain of an

    organization and the structural processes used to support that domain. (rganic shifts are

    caused by downsizing strategies that decrease the domain of an organization and the

    structural processes used to support that domain. !he rationale provided for these shifts

    offers a strategic explanation for decreases in administrative intensity that lag decreases in

    organization size. #ropositions about the impact of downsizing on organizational structure

    are offered as a stimulus to further thought and research. 

    2acroeconomic con!e"uence! o# Down!iing

    !he recession in the 78

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    reduce operating costs as a way of increasing earnings and stock prices. A study of

    S& !"" firms from #$%'""", however, casts serious doubt on the long(term

     payoff of this approach. )he purpose of this article is to suggest several alternative

    approaches to restructuring. In contrast to employment downsizing, a strategy that

    regards people as costs to be cut, a responsible restructuring strategy focuses on

     people as assets to be

    developed. )his focus recognizes that people are the source of innovation and

    renewal, especially in knowledge(based organizations, and that the development of

    new markets, customers, and revenue streams depends on the wise use of a firm*s

    human assets. )he article presents company e+amples and research(based findings

    that illustrate mistakes to avoid and affirmative steps to take when restructuring

    responsibly.

    The Economic 3ogic That Dri(e! Down!iing

    *hat makes downsizing such a compelling strategy to firms worldwide !he economic

    rationale is straightforward. It begins with the premise that there really are only two ways to

    make money in business either you cut costs or you increase revenues. *hich are more

    predictable1 future costs or future revenues $nyone who makes monthly mortgage

    payments knows that future costs are far more predictable than future revenues. #ayroll

    expenses represent fixed costs1 so by cutting payroll1 other things remaining e&ual1 one

    should reduce overall expenses. +educed expenses translate into increased earnings1 and

    earnings drive stock prices. 3igher stock prices make investors and analysts happy. !he key

    phrase is Hother things remaining e&ual. $s we shall see1 other things often do not remain

    e&ual1 and therefore the anticipated benefits of employment downsizing do not always

    materialize.

    What Doe! 0e!earch on the Economic

    Con!e"uence! o# Em$loyment Down!iing Tell +!'

    In a series of studies that included data from 78

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    performance .*e assigned companies to one of seven mutually exclusive categories based

    upon their level of change in employment and their level of change in plant and e&uipment

    6assets:. *e then observed the firms= financial performance 6profitability and total return on

    common stock: from one year before to two years after the employment change events. *e

    examined results for firms in each category on an independent as well as on an industry-

    adjusted basis.9 In our most recent study1 we observed a total of 1E7< occurrences of

    changes in employment for SG# CBB companies over the 7

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    Pre4im$lementation Stage

    If downsizing is chosen as a strategy for change1 then the necessary steps would include

     $dopting a planned approach to the process of implementation. !his would involve*4understanding the implications of downsizing in terms of changes in organizational

    structures1 policies1 roles1 and relationships identifying the changes in individual and organizational assumptions1 mindsets1

    and attitudes which would be needed in the changed scenario ascertaining the new competencies which would be re&uired in the changed

    context.♦ %hoosing appropriate implementers or change agents and training them to handle the

    process effectively.

    ♦ Sharing the rationale for downsizing through continuous communication with employeesin various forums.

    ♦ Maintaining a continuous dialogue to incorporate innovative suggestions and understand

    individual issues and assumptions.♦ %ommunicating detailed procedures to the concerned stakeholders in a transparent and

    timely manner.

    Im$lementation Stage

    ♦ Introducing new processes and structures that would facilitate stabilization of the

    change.♦ 3elping individual employees to &uestion old assumptions1 develop new competencies1

    and manage changed roles and relationships through communication1 mentoring1 and

    training initiatives.♦ /eing sensitive to the needs of survivors1 victims1 and implementers. !his would include

    managing the negative emotions associated with the process1

    helping employees to deal with the trauma through one-on-one counseling and

    extensive communication1 being open to feedback and dialogue.

    ♦ "nsuring procedural justice in implementation 6e.g.1 using objective1 performance-based

    criteria for manpower reduction rather than across-the-board reductions based on age

    and tenure2 matching claims to actions1 etc.:.♦ #roviding organizational support to victims through training for new skills1 identification of 

    new career opportunities1 etc.

    Po!t4im$lementation Stage

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    ♦ +enegotiating psychological contract with the survivors.

    ♦ #roviding support and opportunity to employees for trying out new competencies1

    ♦ 0acilitating a change in the mindset of employees such that they assume greater

    responsibility in planning for their career and employability rather than depending on the

    organization for ensuring their welfare1♦ Monitoring and managing the conse&uences of downsizing at the individual and

    organizational level1♦ 'eveloping a culture of continuous monitoring and &uestioning of the >theory of business=

    whereby change becomes a systemic1 on-going process rather than a one-off

    intervention1♦ Initiating a collective learning culture wherein

    mistakes are seen as learning opportunities1 and

    the experiences and insights gained are used to manage current and futurerealities.

    SO3+TION O- DOWNSIIN/

    Indian com$anie! can %ene#it %y rethinking the $roce!! o# $lanning and

    im$lementing down!iing in a !y!temic manner. &a!ed on our glo%al and

    Indian ex$erience in $ro(iding con!ulting !u$$ort to com$anie! that are

    down!iing5 we ha(e identi#ied eight !te$! that greatly im$act the (alue

    realiation #rom down!iing.

    Ste$ 6* En(i!ion your organiation at the end o# the downturn* )et=s

    say that the economy will rebound in two years time. $t the end of the -7?-7

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    employee who is supposed to be part of the core team does not know that he@she is critical

    to the scheme of things and starts looking out for a job. %apable people find jobs even in a

    down turn. *hen they leave1 the organization loses the muscle J the vital organizational

    memory1 core capabilities and importantly technical and inspirational leadership. Speak to

    your core team. Share the business case for downsizing and your vision and plan for

    bouncing back2 enroll them to drive the downsizing process in a humane manner. Make

    them part of your planning and implementation team for revival and growth.

    Ste$ 8* De#ine Criteria #or Down!iing* $cross the board formulae based

    downsizing is a recipe for disaster. #rocesses@ departments vary with respect to their

    criticality to the business. 4enerally companies use nature of employment1 experience1 value

    add to business1 performance as criteria for deciding on who has to go. 4enerally the

    reporting managers get it wrong in choosing who to retain and who to let go. It=s generally

    the classic case of separating the wheat from the chaff and letting go the wheat. !o prevent

    such wheat chaffing1 we recommend a panel consisting of two eminent external members1

    two assessment experts and two internal senior managers to decide on the downsizing

    numbers. !hey should use multiple criteria including feedback of internal and external

    customers.

    Ste$ 9* Clearly Communicate* It=s important to be honest in times of a downturn. Itis critical to share that we are in difficult times1 reducing people is one of the options1 and the

    entire process would be handled with respect and dignity. !he support that would be

    provided to people has to be emphasized. )eaders need to be sensitive and develop a clear

    transition support plan.

    Ste$ :* De!ign a !e$aration !cheme with career tran!ition !u$$ort* 

    /e generous based on the contribution of the individual. It will take at least D-C months for a

    person to find a reasonable job. $lso provide the person with transition support. !his

    involves workshop based coaching or one to one coaching on the changes brought upon

    individuals due to downsizing. !hrough this process the person is helped to identify their

    strengths and career direction and get skilled in self marketing. $ttitudes and behaviors= that

    might be hindering personal effectiveness are also identified and addressed though such

    processes. (nsite counselors@ telephonic support are variants. 'o not sign up with a

    placement company and think that you are meaning good to your employees. #lacement

    companies have a clear incentive in placing people. !hey tend to be aggressive in

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    persuading a person to take up the first job offer irrespective of whether it is the wrong job or 

    the wrong company.

    Ste$ ;* Pre$are #or the D Day* It is erroneous to assume that all )ine Managers

    can handle separation communication to downsized employees. Some of them may be

    feeling guilty of asking people to go. Many of them may not anticipate the fallouts and hence

    may not be prepared to handle employee reactions on being told to go. !rain )ine and 3+

    Managers. *herever the )ine Manager and 3+ need support1 have the 3ead of the

    department also in such a meeting. 4ive scripts to the )ine Managers on the business case

    and the rationale behind the decision. Such separation meetings should not be for more than

    7B minutes. ;o employee will be happy with such a decision. !he more the meeting

    prolongs1 the greater will be the dissatisfaction. 4et a coach or a counselor to anchor withthe employee immediately. *hen you provide job search support1 employees feel better

    about handling such a situation.

    Ste$

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    employees to listen deeply to your internal and external customers1 suppliers1 customers

    who use competitor products and services etc.:

    Ste$ >* Engage and align your Staying Em$loyee!* #rovide leadership

    roles to the core team and get them to engage the entire employee force. $ compelling

    vision and clear direction for future and sharp individual and team goals are critical for

    getting the best out of the employees. !his is the best time to shape a new culture and align

    the same to the new vision.

    Ste$ 6?* -inally5 create your com$any Alumni* Nust imagine that two years

    down the line you rebound. If you have maintained excellent relations with your downsized

    employees1 they will all join back with rich experiences of other organizations. It=s likesending some one for a sabbatical for two years. Some of them will become your loyal

    customers.

    &oeing Com$any

    Introduction

    /oeing is a huge multinational corporation that designs and builds military and commercialaircraft. In ?BB71 due to already lagging commercial jet sales and then the airliner-driven

    carnage on September 77th1 /oeing cut over ?B1BBB jobs across the spectrum of the

    company1 from office staff to factory workers.

    0aced with a downturn in the commercial aircraft business and reduced military spending1

    !he /oeing %ompany was forced to downsize approximately CC1BBB people over a five-year

    period. !he companyFs management1 organized labor1 the local community1 multiple levels of 

    government1 and community colleges collectively worked together to develop +eemployment

    %enters to assist in the transition of their specialized workforce into alternative forms ofemployment.

    Succe!!#ul Down!iing* The Ca!e o# the &oeing

    0eem$loyment Program

    !he following is a description of how !he /oeing %ompany successfully completed this effort

    at downsizing-

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    'ownsizing is thought to be an effective human resources strategy to increase global

    competitiveness. )abor costs1 generally one of the largest costs for most organizations can

    be reduced through downsizing. In many cases the downsizing process includes outsourcing

    or subcontracting jobs previously performed within the organization. $lthough organizations

    often consider downsizing necessary in order to remain competitive1 this strategy does not

    always result in increased organizational profitability and performance. (ne recent survey

    conducted by the Society for 3uman +esource Management reported that only ?O of firms

    reported productivity improvements while C

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    0or the same reason1 4eneral Motors is increasing its overseas presence in $sia. It recently

    announced that its (pel unit could take over #eugotFs position as the non-%hinese partner in

    southern %hinaFs automotive industry 6%ox1 788:. 4M is also awaiting approval from the

    %hinese government to build a plant in 4uangzhou to supply engines for a plant that 4M is

    building in !hailand. !his second %hinese plant is in addition to the Shanghai plant which will

    begin producing /uick sedans in 788

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    %hairman #hilip M. %ondit and made the decision on September 7< to cut ?BO6 ?B1BBB: to

    DBO6 DB1BBB: of 81BBB people in Seattle area employed by /oeing=s commercial airplane

    unit. !his decision was hard to make by the /oeing=s %ompany because such dealings and

    actions will affect the lives of the people who work in their company.

    The #ollowing are the e(idence noted %y Pritchard

    and 2acPher!on

    7: /oeingFs sale or closure of approximately 7B million s&uare feet of space devoted to

    commercial and military aircraft production in the past decade.

    ?: $ B percent decline in /oeingFs commercial aircraft production1 with less than CB aircraft

    in backlogs of four of its six commercial aircraft models1 when most viable1 mature

    aircraft programs have backlogs in excess of 7BBD: !he lack of new aircraft programsL/oeingFs most recent aircraft is the 9991 designed in

    the early 788BsE: /oeingFs announcement on 'ec. ?B that it would shelve its futuristic1 high-speed1 sonic-

    cruiser design in favor of a cheaper alternative1 its second cancellation of a proposed

    commercial jetliner program

    !his strategy will probably be positive because aviation services and high-tech military

    aircraft manufacturing have had higher profit margins than the commercial side.

    !he effect of this strategy is losing the members or the employees of this company who

    mainly do riveting and aircraft assembly. $nd now1 they will be needing people who have

    new sets of skills that will fit on a specific position.

    I conclude that downsizing could be a hard decision for the company to be made

    because the lives of the employees will be affected. (n the other hand1 it will be helpfulfor the company to maintain their standing in the industry to be able to compete to other

    companies.

     $s soon as hijacked passenger jets slammed into the *orld !rade %enter towers and the

    #entagon on Sept. 771 senior /oeing officials sensed that airplane manufacturing would

    suffer drastically. %alls from airline executives soon began flooding into sales execs running

    /oeingFs %ommercial $irplane division here in Seattle. Q*e started talking immediately after

    the attack1FF says one senior /oeing official involved in the discussions to dramatically cut

    production. Q*e knew -- as soon as the events were reported -- it was going to have adramatic effect on our business and our customers.FF

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    !hatFs why /oeing %ommercial #resident and %"( $lan Mulally1 in consultation with

    %hairman #hilip M. %ondit in %hicago1 made the decision on Sept. 7< to cut ?BO to DBO of

    81BB people employed by /oeingFs commercial airplane unit -- this translates into ?B1BBB

    to DB1BBB workers in the Seattle area. Q*e profoundly regret that these actions will impact

    the lives of so many of our highly valued employees1FF Mulally said1 in a statement issued late

    !uesday. Q3owever1 itFs critical that we take these necessary steps now to size the business

    to support the difficult and uncertain environment faced by our airline customers.FF

    DOIN/ WE33 &E-O0E

     /oeingFs %ommercial $irplane unit1 which still generates BO of the companyFs total PC7

    billion in revenues1 was already planning to pare the workforce in anticipation of an airline

    slump1 after restructuring factories1 embracing lean manufacturing principles1 and cutting

    costs 6for SG#Fs latest rating statement on /oeing1 see the Sept. 78 @Stock Pick! ) Pan!B.

    !he hard work paid off in the first two &uarters. 0or the first time in nearly a decade1 the

    division was producing 7BO profit margins. "xecs were confident they could s&ueeze even

    more fat out of a what had been a costly and inefficient airplane production system.

    "ven some *all Street analysts were impressed that the airplane maker was finally

    becoming a new kind of company -- one more focused on making profit and generating gobs

    of cash. Senior execs had hoped to continue double-digit profit margins even during the

    downturn that was expected in the commercial airplane business.

    /ut along with the rest of $merica1 /oeing leaders never figured that a band of terrorists

    would hijack four of their jets and slam them into the *orld !rade %enter towers1 the

    #entagon1 and a field in #ennsylvania1 killing more than C1BBB people. !he aftershocks have

    hit the airline industry and the financial markets hard. $nd the worldFs largest airplane maker

    is now feeling the effects.

    QItFs certainly going to test us1 test the airlines1 and test our competitors as well1FF says one

    /oeing executive. QItFs the ultimate test of the industryFs strength. ItFs horrible1 horrific1

    shocking1 stunning1 traumatic1 and it breaks your heart. $t the end of the day1 itFs an

    incredible challenge in front of us. I donFt know if thereFs one word that can capture it.FF

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    AN E--ECTIE C+0E -O0 DOWNSIIN/

    /oeing has sharply cut its forecasts for aircraft deliveries and says the downturn could runinto ?BBD as ,.S. airlines reduce capacity. !he company predicts that it might deliver just

    CBB jets this year1 down from an earlier forecast of CD

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    house if older furniture is too large. It can also result in family crowding1 if a family downsizes

    while children are still in the house.

    3ea(ing &ehind -riend!

    • 'epending on the location of the move1 downsizing can mean going to a new town or 

    a new state. "ven if youFre staying in the same city1 youFre still uprooting the family and

    moving to a new neighborhood. )eaving behind friends and neighbors who youFve known for 

    years is often emotionally challenging.

    Stre!!

    • Moving is stressful1 even when the move is good and necessary. Rou must pack up

    all of your belongings1 sell the old house if it was purchased or give appropriate notice for a

    renter1 and perhaps even buy a new house before the old house is no longer available. !his

    stress is a downfall of moving1 but is unavoidable.

    Extra 2oney

    • 0or a home that has gone up in value since it was purchased or that is either paid off

    or mostly paid off1 one potential advantage of downsizing is the extra money. !he sale of a

    larger home will often net more money than the new home re&uires1 meaning extra money in

    your pocket.

    3ower Co!t!

    •  $ smaller home naturally has lower costs for regular household needs. 0or example1

    heating and cooling are usually less expensive with a smaller house than a larger house.

    !axes may also be lower for smaller homes1 though the amount of lowered costs in taxes will

    vary depending on the state and the size of the lot1 as well as the size of the home.

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    CONC3+SION

    !he broad &uestions relating to downsizing 6why1 what1 and how: have been studied in fairly

    rigorous detail till date. 'espite a theoretical understanding of the principles underlying the

    process1 the negative conse&uences associated with this exercise on both organizations and

    individual employees continue unabated 6)abib and $pplebaum1 788D:. It is hypothesized

    that this could be the result of viewing downsizing as a panacea for organizational problems

    rather than seeing it as a part of an overall strategy for organizational renewal. !hese

    negative conse&uences could be minimized by viewing it as a process of transformation not

     just through incremental changes but also by reframing existing mental models1

    assumptions1 policies1 and relationships to enhance the adaptive potential of the

    organization.

    'ownsizing is not just an activity. It demands leadership1 a vision about handling the present

    as well as a vision about handling the future. *hen you behave like a responsible family

    head1 care for each member1 let go of people without malice and engage everyone to

    navigate the difficult times1 you have built true character. It is one thing to design big posters

    on the company vision and values1 an entirely different game to demonstrate the same and

    come out triumphs during testing times.

    !his symposium considers the organizational downsizing phenomenon. ,sing theoretical

    and case studies1 we also benefit from a cross-national and cross-sector focus..

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    &I&3IO/0AP,

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