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Workforce Downsizing: The Newest Challenge for The New Economy

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Workforce Downsizing: The Newest Challenge for The New Economy

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    1. G. Hinrichs, 2003 Workforce Downsizing: The Newest Challenge for The New Economy Employee Relations HRM Session 10

    2. G. Hinrichs, 2003 Recent Layoffs Statistics January 2003 layoff notices -- Most in 8 years Feb-March 2003 -- 66% increase in tech-related job cuts Not just dot-coms -- Disney, GE, Toshiba, Daimler-Chrysler, Whirlpool, Proctor & Gamble, Gateway, IBM Unemployment trending up

    3. G. Hinrichs, 2003 Doing It Right -- What's The Big Deal? Business/Operational Impact Reducing in the right areas Reducing the right employees Impact on Morale of Remaining Employees Public Relations/Customer Relations Impact Litigation and Litigation Costs

    4. G. Hinrichs, 2003 The Cost of RIF-Related Litigation $13 Million settlement for a class of former employees alleging age discrimination in a series of layoffs in the early 90's. $5.5 Million jury award to one employee claiming sex discrimination in a layoff of 100 employees. $1.2 Million jury award to one former executive alleging age discrimination in a layoff. $4.1 Million settlement to 11 former employees alleging age discrimination.

    5. G. Hinrichs, 2003 Goals For Every RIF Achieve necessary reduction targets and other business goals Retain essential talent and skills Complete RIF in a timely manner Support affected employees Communicate effectively with employees, customers and others Comply with all laws and regulations

    6. G. Hinrichs, 2003 To: <<Human Resources>> From: <<CEO>> CC: <<Legal>> Re: Cost Reduction As you know, we must reduce our overall operating costs by $10 million over the next fiscal year. After taking all other possible cost-cutting measures, the Company has determined that $5 million must be reduced through a reduction in headcount. The area targeted for reduction is Sales & Marketing. Please advise as to how we should proceed with this reorganization process. URGENT!

    7. G. Hinrichs, 2003

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