SMART ALTERNATIVES TO DOWNSIZING

Since 1980 U.S. companies have cut more than 43 million jobs through downsizing. That represents layoffs affecting nearly three‐quarters of all U.S. households. Unlike the layoffs of 20 years ago, these cuts are permanent. Historically, layoffs tended to affect line manufacturing workers, but since the mid‐1980s, white‐collar and managerial jobs have been hardest hit. In the largest U.S. firms, 77 percent of the jobs lost since 1989 have been white‐collar jobs (Anfuso, 1996 & Laabs, 1996).