'Downsizing Definition Essay\r'

'curtailment occurs when a friendship pass awayingly reduces its workforce. embodied downsizing is often the result of poor economical conditions or the party’s need to snub jobs in order to lower costs or maintain net incomeability. Downsizing may occur when cardinal association merges with an early(a), a product or dish out is cut, or the economy falters. Downsizing also occurs when employers deprivation to â€Å"streamline” a caller †this refers to corporate restructuring in order to augment profit and maximize efficiency. Downsizing results in layoffs that ar often followed by other restructuring changes, such as branch closings, departmental consolidation, and other forms of cutting pay expenses. In round cases, employers argon non fired, that instead become parttime or unpredictable workers to trim costs.\r\nIn a business concern enterprise, downsizing is reducing the turn of events of employees on the operating payroll. Some recitation rs distinguish downsizing from a layoff, with downsizing intended to be a stable downscaling and a layoff intended to be a temporary downscaling in which employees may later be rehired. headachees use several techniques in downsizing, including providing incentives to take early retreat and transfer to subsidiary companies, but the most park technique is to simply terminate the employment of a certain number of battalion. Recentll, country’s largest mobile phone phone guild Grameenphone, has embarked on major operative cost-cutting measures that include the downsizing of its manpower in most specific sections of the conjunction.\r\nGrameenPhone is the largest mobile phone company in Bangladesh. In the midst of lack of communication means, GrameenPhone has bring ond an stiff and user-friendly mobile phone network. It has put a positive impact on the lifestyle of the people of Bangladesh.It is one of the largest cellular operator in the country. It is a joint venture enterprise between Telenor and Grameen telecom Corporation. Telenor is the largest telecommunications company in Norway, owns 51% sh bes of Grameenphone. It is amongst the oldest, most sophisticated, and diversify telecom companies in the world. Grameen Telecom itself owns 35% shares, 9.5% shares are held by Marubeni Corporation in japan and the rest 4.5% shares are held by Gonofone increase Corp in New York. In addition, triple leading outside(a) financial institutions†the International Finance Corporation, Asian Development Bank and the Commonwealth Development Corporation †are also shareholders of GrameenPhone.\r\nThe three organizations each hold three per cent of preferred shares of GrameenPhone. It was the first company to introduce GSM technology in Bangladesh. It also established the first 24-hour Call Center to support its subscribers. With the slogan term of enlistment Close, stated goal of Grameenphone is to supply affordable phone to the entire popula tion of Bangladesh. At present virtually 4800 employees, both unchanging and contractual, are working in different sections of the GP. But the sudden decision to downsize its manpower has created panic among most employees of the company that saw firm rise in its annual profit-earning in new years. The victims of the latest cost cutting measures are in most cases permanent employees who worked in the gross sales and serve departments.\r\nThe company has abolished its logistics services in all regional offices and in the case of sales it has reduced the number of posts and declared the remaining post vacant. Interestingly, it has asked all the sales staff either to compete a unused for the vacant posts or take an attractive ‘ perish’ package. Management is saying it is a part of the business co-occurrence go, Through a so called feat valuation process the company is conducting termination of permanent employee who were meant to be loyal and efficient. Even in more cases employees are being forcefully asked to leave the organization. some of the employees pass on complained that Grameenphone’s concern has threatened them to present their resignation letter otherwise they will be mentally humiliated as well as downsized at work. From employee source it is found that in some cases the company is violating the Bangladesh Labor Act 2006 but the political science or the labor law enforcement bureau is not taking any action.\r\nThe statistic shows that last year the company profit incensement was almost 205% and the employee of the company was suppose to run low a potation of the profit as per the company policy. But it never happened. As Grameenphone’s profit already is in increase as per last year’s report than the company should provide a validated reason of termination of such a large number of employment indoors a short time. Recently the management have introduces a new system of re-interview within the compan y to ensure the existing placement of the individuals. Management has claimed this process as a part of performance paygrade tool which has made the employee to raise their voice against this injustice. By using such words like ‘Business Alignment’ and ‘Change in structure’ in reality the company is terminating the employment of permanent employee who has given his 8 hours of every single day with loyalty to built this organization to this height.\r\nEven in some cases the company had forced some of the female employee to attend the interviews during their gestation leave and terminated their employment contract as claiming the employee is less productive for the company which is a cover violation of Bangladesh labor Act 2006. Employees have claimed that the management is not providing any written announcement or instruction but verbally they are enquire to leave the organization through phone calls and frequent meeting. This year the government has announced 11% ostentation rate but Grameenphone being a multination company has provided only 0%-5% incensement to it’s employees though it’s quarterly report shows almost 81% increase op profit with is this year.\r\nBack in 2009 Almost 1500 permanent employees are asked to leave the organization without any valid reasons but based on performance paygrade process. So how come the number of termination became so high based on performance evaluation process after a certain distributor point of time every year? And how downsizing a large number of senior employees into junior position became ethical practice or business alignment process? As a Norwegian company people had a better expectation from Grameenphone but now it seems to be the reason behind of astonishment of hundreds of employee’s career.\r\n'