Corporate downsizing means removing the excess workforce from the company in a situation of economic downfall.
Explanation:
In the situation of corporate downfall, the workforce lost their employment and they force to move for other sources. In this situation, the company finds itself in the financial crunch and decided to remove the excess manpower in order to save the revenue and save the organization from the downfall.
This is the standard practice of corporate sector. Corporate downsizing can also occur in a condition of merger between two companies and acquisition when the structure and requirement of the work change.
