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American industry certainly did downsize in the mid-90s. Maybe the service industry wasnât affected that much, but electronics and heavy manufacturing all but disappeared. China did ok, though.
Having lived through the downsizing trend of the early to mid- 90s I can attest to its reality. Yes, manufacturing is where the biggest hits were but it became a management craze even in the service sector. Back then werenât considered a good manager unless you fired a large number of staff and workers. ( I was working at an internationally known med school)
Our Asst Dean of Finance euphemistically called it âRight Sizingâ. Some managers gained good favor from their bosses by shedding large departments, from IT to groundskeeping, and contracting the work to outside companies. These companies would hire the same staff, often paid a lot less, had fewer benefits and no retirement plans. I saw 25 year employees cleaning out lockers and clearing desksâŠ
Other times â older employees were let go, the job descriptions tweaked slightly, and newer, younger employees were brought in to take these new jobs.
Good times⊠and we blew the chance to repeat it by not electing HC?
Our stateâs highway department did a great job, then we got a Republican governor who thought privatizing everything was the holy grail. Employees got expensive buyouts, work went to out of state contractors who paid minimum wage, no benefits or retirement, shoddy work with corners cut. These were for-profit contractors, I couldnât figure out how that could be better than a state agency which is basically a not for profit.
Jack Welch became CEO of GE in 1981. People gave him the nickname of âNeutron Jackâ for getting rid of people while leaving buildings intact. He hated the term âdownsizing.â He believed what he was doing was ârightsizing.â
When politicians worship at the altar of the stock market ( as in every damn president since Raygun) the results shouldnât be surprising. The last president who actually cared about the non-rich and non-powerful was Carter.
BE THIS GUY over 3 years ago
You are giving some of your employees the freedom to pursue new opportunities.
Prescott_Philosopher over 3 years ago
It seems Mike is seeing writing on the wall.
Liverlips McCracken Premium Member over 3 years ago
The only question in my mind is whether Mike is among those to be âdownsized?â
jvo over 3 years ago
It was replaced by that abomination ârightsizingââŠâŠ apparently the right size is always down. :/
RichardHunter2 over 3 years ago
First the smokeâŠ
Plumbob Wilson over 3 years ago
American industry certainly did downsize in the mid-90s. Maybe the service industry wasnât affected that much, but electronics and heavy manufacturing all but disappeared. China did ok, though.
vaughnrl2003 Premium Member over 3 years ago
Uh oh, indeed. When you start hearing the word downsizing anywhere in the company, itâs time to brush up your resume and pay off your credit cards.
Bob Blumenfeld over 3 years ago
Just call it the euphemism that eventually replaced it: âRight-sizing.â
IâmStandingRightHere over 3 years ago
Having lived through the downsizing trend of the early to mid- 90s I can attest to its reality. Yes, manufacturing is where the biggest hits were but it became a management craze even in the service sector. Back then werenât considered a good manager unless you fired a large number of staff and workers. ( I was working at an internationally known med school)
Our Asst Dean of Finance euphemistically called it âRight Sizingâ. Some managers gained good favor from their bosses by shedding large departments, from IT to groundskeeping, and contracting the work to outside companies. These companies would hire the same staff, often paid a lot less, had fewer benefits and no retirement plans. I saw 25 year employees cleaning out lockers and clearing desksâŠ
Other times â older employees were let go, the job descriptions tweaked slightly, and newer, younger employees were brought in to take these new jobs.
Good times⊠and we blew the chance to repeat it by not electing HC?
Lee Taplinger over 3 years ago
Our stateâs highway department did a great job, then we got a Republican governor who thought privatizing everything was the holy grail. Employees got expensive buyouts, work went to out of state contractors who paid minimum wage, no benefits or retirement, shoddy work with corners cut. These were for-profit contractors, I couldnât figure out how that could be better than a state agency which is basically a not for profit.
Jogger2 over 3 years ago
Jack Welch became CEO of GE in 1981. People gave him the nickname of âNeutron Jackâ for getting rid of people while leaving buildings intact. He hated the term âdownsizing.â He believed what he was doing was ârightsizing.â
ChessPirate over 3 years ago
âMarket Adjustment.â
mattro65 over 3 years ago
When politicians worship at the altar of the stock market ( as in every damn president since Raygun) the results shouldnât be surprising. The last president who actually cared about the non-rich and non-powerful was Carter.
NWdryad over 3 years ago
I sense bad news coming for Kim.
Ammosexual Premium Member over 3 years ago
Lived though this in 2013, change of ownership promised big things for MeâŠuntil it didnât. Oh well time to retire.
moosemin over 3 years ago
Get rid of the well-paid. Replace with âContract workersâ! Save a bundle, watch shareholder values rise!