This year in your hometown a number of your friends' parents, both blue collar and white collar workers, have just lost their jobs at the local Ford plant. Management explained that the company is not closing down but that due to profit loss, it must reorganize how business gets done. Management further explained that the workers who were not laid off will face a cut in benefits and a salary freeze. This trend can be explained using which of the following concepts?

Question

Quizplus · Accepted Answer

Downsizing refers to the reduction of a workforce, while deindustrialization refers to the decline of manufacturing industries. In this case, the Ford plant is laying off workers and reorganizing its operations, which fits the definition of downsizing and deindustrialization.

This Year in Your Hometown a Number of Your Friends