Downsizing and restructuring: lessons from the firing line for revitalizing organizations

Notes that organizations throughout the industrialized world continue to downsize and restructure in response to global competitive pressures. Some firms downsize more than once, and indications are that downsizing and restructuring efforts will continue over the next decade at least. States that, unfortunately, many, perhaps half of these initiatives are unsuccessful. Outlines a three‐stage model designed to improve downsizing and restructuring efforts. The first stage, initiation, involves planning the revitalization efforts. The second stage, implementation, outlines the ways of smoothing the transition. The final stage, institutionalization, comes to grips with healing and refocusing the organization.