Downsizing

Downsizing is the elimination of part of the workforce, especially in business and government, ostensibly for achieving a more efficient and cost-effective organization. It became an issue in the early stages of the 1996 U.S. Presidential campaign. Some think it was spawned by Pat Buchanan's political ambitions, a temporary blip on the screen. The politicians who won in 1996 would like us to believe that the problem has disappeared, that everything is fine and that they should receive the credit for their sound economic policies. Recent news reports about the employment picture give some support to that claim. Consider this lead from a recent article in the business section of The Boston Globe:

Even before Stephanie Balaouras graduated from Wellesley’s Babson College, the 21-year-old senior had offers from two employers, including a spot at Andersen Consultants that seemed to have everything she wanted: travel, educational opportunities, and a salary range of $35,000 to $38,000 a ...