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Workforce reduction and firm performance: evidence from french firm data (1994-2000)

Author

Listed:
  • Bénédicte Reynaud

    (PSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

Abstract

Using a large annual database of French firms (1994-2000), this article examines the determinants of workforce reductions in publicly listed and non-listed companies and their consequences on firm performance. First, workforce reduction appears to be a defensive response to adverse economic shocks. However, publicly listed firms anticipate better than do unlisted companies the decision to cut jobs. Second, a difference-in-differences model indicates that there has been a very small but significant improvement in the major performance indicators for the non-listed companies. For listed companies, the corresponding estimates are not significant.

Suggested Citation

  • Bénédicte Reynaud, 2012. "Workforce reduction and firm performance: evidence from french firm data (1994-2000)," Post-Print hal-00813146, HAL.
    • Handle: RePEc:hal:journl:hal-00813146
    DOI: 10.1093/ser/mws017
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    Cited by:

    1. Camille Signoretto & Julie Valentin, 2019. "Individual dismissals for personal and economic reasons in French firms: One or two models?," European Journal of Law and Economics, Springer, vol. 48(2), pages 241-265, October.
    2. Ilias Makris & Vasileios Giannopoulos & Efi Cheila, 2022. "Associating Company-Specific Characteristics with Ownership Structure and Performance: An Analysis of Publicly Listed Firms from Selected Countries in the Eurozone during the 2008 Financial Crisis and," Businesses, MDPI, vol. 2(4), pages 1-13, October.

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