Due to the increased levels of organizational efficiency, profitability, and competitiveness have produced major layoffs and redundancies, corporate downsizing has now become a strategy of choice for many corporations and governmental agencies. It is now seen as a goal-oriented management tool, and in this avatar has transformed entire economies and industries, changed several organizations, and made a deep impact on the lives of employees, managers and their families. This one-of-a-kind book provides a detailed synthesis and review of the prevailing knowledge base on downsizing, drawn from international academic studies. It demonstrates the effectiveness of this concept and deals with controversial issues such as the ethics of downsizing and the state of employment in the wake of downsizing. This book will surely be invaluable to corporate executives, policy-makers, researchers, consultants, and social science students.