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Fear stage is the third emotional stage following an announcement of layoff, in which employees worry about how they will survive financially. [28] Acceptance stage is the fourth and final stage of the emotional reaction to downsizing, in which employees accept that layoffs will occur and are ready to take steps to secure their future. [28]
Overload may occur in the context of downsizing, which often does not narrow an organization's goals, but requires fewer employees to meet those goals. [138] The research on downsizing, however, indicates that downsizing has more destructive effects on the health of the workers who survive the layoffs than burnout; these health effects include ...
Downsizing with only finances in mind can have a major impact on your emotional well-being — especially if it means selling, donating or throwing out the things that bring nonmonetary value to ...
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
It involves simplifying various aspects of life, … Continue reading → The post When to Downsize: Financial Planning Guide appeared first on SmartAsset Blog.
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Downsizing is a tactic used by organizations where there is a slow-down in business in order to remain profitable or minimize losses. This tactic is most commonly observed during widespread economic hardships, such as the Great Recession of 2008.
A third financial benefit to downsizing is that you can use that extra money to trade in your mortgage for a paid-off home. “Use the proceeds from selling your current home to pay cash for a ...