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Does downsizing improve organizational performance? An analysis of Spanish manufacturing firms

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Author Info
Fernando Munoz-Bullon ()
Maria Jose Sanchez-Bueno ()

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Abstract

The objective of this study is to examine the effect of downsizing on corporate performance, considering a sample of manufacturing firms drawn from the Spanish Survey of Business Strategies during the 1993- 2005 period. No significant differences in post-downsizing performance arise between companies which downsize and those that do not. Likewise, we find that substantial workforce reductions through collective dismissals do not either lead to improved performance levels. Downsizing, therefore, may not be a way for managers to increase performance, particularly in a context like the Spanish one, where the labour market is characterized by a high protection of employees’ rights and substantial contract termination costs.

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File URL: http://e-archivo.uc3m.es/dspace/bitstream/10016/2720/1/wb083007.pdf
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Publisher Info
Paper provided by Universidad Carlos III, Departamento de Economía de la Empresa in its series Business Economics Working Papers with number wb083007.

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Date of creation: Jun 2008
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Handle: RePEc:cte:wbrepe:wb083007

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Related research
Keywords: Downsizing; Corporate performance; Spanish labour market;

Find related papers by JEL classification:
J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
J65 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment Insurance; Severance Pay; Plant Closings

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Luis Toharia & Antonio Ojeda, 1999. "The Management of Redundancies in Europe: The Case of Spain," LABOUR, CEIS, Fondazione Giacomo Brodolini and Blackwell Publishing Ltd, vol. 13(1), pages 237-267, 03. [Downloadable!] (restricted)
  2. Chen, Peter & Mehrotra, Vikas & Sivakumar, Ranjini & Yu, Wayne W., 2001. "Layoffs, shareholders' wealth, and corporate performance," Journal of Empirical Finance, Elsevier, vol. 8(2), pages 171-199, May. [Downloadable!] (restricted)
  3. Arne L. Kalleberg, 2001. "Organizing Flexibility: The Flexible Firm in a New Century," British Journal of Industrial Relations, Blackwell Publishers Ltd/London School of Economics, vol. 39(4), pages 479-504, December. [Downloadable!] (restricted)
  4. Nickell, Stephen, 1997. "Unemployment and Labor Market Rigidities: Europe versus North America," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 55-74, Summer. [Downloadable!] (restricted)
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