Corporate restructuring: a study of criteria and implications from the viewpoints of hr managers, victims and survivors

Organizational restructuring and downsizing is inevitable for any organization that is focused on dealing with competition and business survival on a daily basis, due to the different organizational challenges, globalization and changes in economic conditions. In the dirrent economic climates, it is critical that organizations evaluate the need of restructuring carefully, if they intend to survive. The researcher has reviewed a broad literature base on restructuring, clearly examining the different models, theories and perceptions related to the process. Through a conceptual framework, the study aims to analyse the gap between the right practices and perceptions of employees on restructuring and downsizing. The study adopted a descriptive survey since it was seeking to ascertain respondent’s perceptions and experiences on organization restructuring in a structured manner. Data transcription was collected from 50 individuals. The group comprises 10 HR practitioners, 20 victims, and 20 survivors. The data collected from interviews with significant person will form the primary source of information while articles from newspapers, magazines and internet research papers will be the secondary source of information to support our discussion and analysis. The study found consistencies on rationalization as the strategic platform to turnaround the organization during economic downturns, however proper communication need to have an effective downsizing program. The after effects of the exercise should be managed in a more systematic and fair ways, especially to the survivors that was retained in the process. The framework towards facilitating adaptation to transition was well received, which positively exerts different forces at emotional and intellectual level to weaken the position of old ways of doing business and strengthening the penetration of new culture into organization. It is also seen that the elements of communication and leadership plays an important and pivotal role in determining the success of downsizing