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# to lay-off, or a lay-off is to get rid of staff, temporary or permanent discharge of workers; redundancy. # retrenchment is to reduce the amount (of costs); to cut down on expenses; to introduce economies.
So, whilst all lay-offs may be part of an retrenchment strategy, not all retrenchments necessarily involve lay-offs.
Many economists often use the terms of retrenchment and downsizing to explain changes in the way a company does business. Clearly downsizing means that a company has done several things. It has reduced the number of products it produces, and
* reduced staff because it has reduced its number of products; and
* closing various facilities in various parts of its markets.
Retrenchment is often used as a term that means a company has stepped back and refortified its basic products. It can mean changes in the amount of debt it has and refocusing on tried and true product development.
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What are advantage and disadvantage of a firm using retrenchment growth strategy?
The advantage is that the wage bill is reduced, the disadvantage of the retrenchment growth strategy is that a firm may loses employee without reaching their full potential.
What are the causes of retrenchment?
Retrenchment is the act of cutting down or reduction, particularly in the area of public expenditure, money availability would cause the need to retrench.Some of the causes of retrenchment are:Technology:New technologies can cause the need for company reorganization. For instance, if there is a new machine that digs a ditch, you would hire a person to run the machine, but let go the ten man shovel crew.Economics:A company might need to reduce costs, or simply wish to increase profits. Sometimes retrenchment is needed for a company's economic survival.Structural:The restructuring of a company can sometimes make a position redundant. To increase efficiency, some people may be offered other positions. If they do not wish to take the new position, they could be retrenched.
What is the difference between 'endorsement' and 'approval'?
what is the difference between approval and endorsement
What is the difference between a tender and auction?
what is the difference between an auction and a tender
Maximizing benefits and minimizing costs?
Lay offs / downsizing of staff personal budgeting
What is the difference between downsizing and retrenchment?
Rightsizing is a more applicable term for optimizing employee numbers and positions to make a company more efficient and profitable. It could even describe when a company increases the total number of employees, contrary to common belief. Downsizing generally involves reducing the total number of people employed in an organization in an attempt to make the business more efficient and profitable, although that is not necessarily the result. Rightsizing is a better definition for the company's goals for optimum employment characteristics, and is more politically correct. A company could downsize and still reduce profitability through employment choices.
The difference between Right Sizing and Downsizing?
right sizing i think is making it fit, and dowsizing can also be making it fit, or making it small
What is retrenchment and advantages?
Retrenchment refers to sudden firing of employees du to change in organisational strategy or bjective
What is meant by retrenchment?
tacr
What was the cornerstone of the Republican domestic policy?
retrenchment.
The cornerstone of Republican domestic policy was?
retrenchment
What is meaning of retrenchment?
A retrenchment strategy is a type of strategy a corporation uses to scale back its operations. The company can use this to limit the diversity of their operations or just the size of their processes in general.
What are the advantages and Disadvantages of downsizing?
Downsizing is the process of reducing the number of workers in a certain firm. There are a lot of reasons why a firm undergo into downsizing. One reason is to minimize the cost, and to increase productivity. This practice has its own disadvantages and advantages, let us first discuss some of the disadvantages of downsizing. First is that downsizing forces re-thinking of employment strategy, lifelong strategy will no longer be effective after a downsizing. Next, violation of psychological contract, simply because due to downsizing the workers lower their work commitment.If their are disadvantages of downsizing their are also advantages out of this practice. Changes in Strategy,Organization structure and Culture accompany job cuts of downsizing.
What is the difference between downsizing and delayering?
delaying is a reduction in the organisation layers or hierarchy with the aim of making the decision process much faster while rightsizing reduction in the workforce with the aim of reducing the organisation cost (more cost effective)
What is retrenchment?
Retrenchment is the process of reducing costs, usually by cutting back on expenses, staff, or services. It is often done as a strategy to improve a company's financial situation or to streamline operations in response to economic challenges. Retrenchment decisions can have significant impacts on employees, shareholders, and other stakeholders.
Answer for brain teaser corporate letters getting smaller?
Corporate downsizing? Corporate shrinkage?
What is retrenchment compensation?
Retrenchment means lay off of employees from the company on account of many reasons like, company going in debt or company's need to cut down the payroll, etc. The compensation given at that time to the employees for firing of them without any notice is called retrenchment compensation.
