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Decreasing the size of the organizations workforce is the turnaround strategy used by an organization human resource managers .
What is turnaround strategy ?
A turnaround plan involves restructuring or turning the company's current strategy on its head. Companies typically use this tactic when a unit or department is losing money or has been doing poorly for a while.
Underperformance may have a variety of causes. It's possible that the management isn't doing its job properly. Or perhaps a recessionary period is what the economy is going through. It's possible that consumer preferences and tastes have altered. Or a natural disaster might have struck the nation. Similar to this, the company can be dealing with a significant increase in input costs or the entry of new competitors. A financial or liquidity problem could also be present.
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