Dhruv Tiwari, Campus Law Centre, University of Delhi
Mehar Kaur, Faculty of Law, University of Delhi
ABSTRACT
In light of companies' ongoing efforts to curtail expenses, a pervasive wave of layoffs is rippling across the global workforce, leaving an indelible impact on groups of employees spanning from mere dozens to vast numbers in the thousands. This article endeavours to dissect the crucial facets and reverberating consequences inherent in the intricate process of layoffs. Delving deeper, it expounds upon the prevailing landscape of workforce downsizing on an international scale, transcending geographical boundaries. Termed by employers as "downsizing," "rightsizing," or the more euphemistic "smart sizing," these deliberate reductions in workforce, while often deemed a necessary strategic move, inevitably evoke a chorus of dissent and apprehension from employees. The unsettling repercussions of job severance resonate not only within the confines of the sector undergoing such transformation but can potentially cascade across industries, triggering a chain reaction of workforce depletion. Amidst these disquieting developments, the common sentiment among employees towards layoffs remains resolutely negative, a sentiment immune to the lexical acrobatics of corporate terminologies. As this narrative unfolds, it culminates in offering counsel to both the employees grappling with the ramifications of job loss and the businesses navigating the intricate terrain of personnel reduction. In a climate fraught with uncertainty, the article aspires to furnish insights that can potentially render this challenging process more navigable for all stakeholders involved, encapsulating the collective endeavour to harmonise the exigencies of economic realities with the well-being and livelihoods of the workforce.
Keywords: layoffs, employees, employer, compensation, downsizing
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