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Responsible Restructuring: Creative and Profitable Alternatives to Layoffs


By Wayne F. Cascio

2002, 126 pages, Hardcover

ISBN: 9781576751299

SHRMStore Item #: 61.16502

 

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    FIRMS THAT RESTRUCTURE THROUGH DOWNSIZING are not more profitable than those that don’t, and often end up hurting themselves in the long run. Responsible Restructuring draws on the results of an 18-year study of S&P 500 firms to prove that it makes good business sense to restructure responsibly-to avoid downsizing and instead regard employees as assets to be developed rather than costs to be cut.

    Wayne Cascio explodes 13 common myths about downsizing, detailing its negative impact on profitability, productivity, quality, and on the morale, commitment, and even health of survivors. He uses real-life examples to illustrate successful approaches to responsible restructuring used by companies such as Charles Schwab, Compaq, Cisco, Motorola, Reflexite, and Southwest Airlines. And he offers specific, step-by-step advice on what to do-and what not to do-when developing and implementing a restructuring strategy that, unlike layoffs, leaves the organization stronger and better able to face the challenges ahead.

    Co-published by SHRM and Berrett-Koehler Publishers.

    Read an Excerpt. 

     

     Praise for the Book

     

    "At last, a clear and cogent business case for not laying off large numbers of employees when profits go down. Wayne Cascio blends vivid case examples and careful financial analysis to show why downsizing may be counter-productive, even when economic times are tough. A must-read for any executive who wants to be prepared to cope with tough times."--Joanne Martin, Merrill Professor of Organizational Behavior, Graduate School of Business, Stanford University

    "Responsible Restructuring is a thoughtful, responsible, and necessary outline for management at all levels of corporate . Professor Cascio has, with a short, but powerful book, issued a common-sense blueprint for restructuring in today's rapidly changing business world."--Eugene K. Anthony, retired U.S. Administrative Law Judge

    “Knowledge businesses depend on the engagement of their people to innovate and grow. Cascio makes the point, with compelling evidence, that the responsible management of restructurings can sustain, if not enhance, this level of engagement. Clearly, the more common practice of far less responsible behavior can have a devastating impact on the future of the enterprise. This book provides the needed guidance to know the difference and to take an informed path.—Debra Engel, former Senior Vice President, Corporate Services, 3Com

     

     Table of Contents

     

    Preface

    Chapter 1. Restructuring in Perspective

    Chapter 2. The Financial Consequences of Alternative Restructuring Strategies

    Chapter 3. A Baker's Dozen Myths versus Facts About Downsizing

    Chapter 4. The Case for Responsible Restructuring

    Chapter 5. Responsible Restructuring -- Alternative Strategies

    Chapter 6. The Virtues of Stability

    Chapter 7. Responsible Restructuring: What to Do and What Not to Do

    Endnotes

    Index

     

     About the Author

     

    Wayne F. Cascio has written extensively about employment downsizing and restructuring, and has consulted with a wide variety of firms on six continents. He is past chair of the Human Resources Division of the Academy of Management, past president of the Society for Industrial and Organizational Psychology, and is currently a professor of management at the University of Colorado-Denver. He is the coauthor of Investing in People: Financial Impact of Human Resource Initiatives.