The management of downsizing in business organization: A Survey of Skye Bank Plc. in Benue State and Nasarawa State

Abstract

In a bid to clock meaningful success in terms of profitability in the global business terrain in general and
in Nigeria in particular, organizations are making inroads into a wide range of business endeavours via
the instrumentality of downsizing strategies. Defined broadly as a process which results in layoffs and
the streaming of functions as well as the redesigning of systems, downsizing is essentially a positive
proactive strategy. Properly conceived and implemented, downsizing has a tremendous potential for
organizational survival and futurity. As the topic indicates, the pivotal thrust of this piece is a criticalcum-empirical survey of the management of downsizing in business organizations with a focus on Skye
Bank Plc in Benue and Nasarawa States. The study adopts a simple empirical survey which is crosssectional in character. Data elicited were rigorously analysed using percentages. The most outstanding
findings are that downsizing strategies are highly necessary for organizational competitiveness in Skye
Bank Plc. notwithstanding the fact that downsizing involved costs. The study recommends inter alia that
downsizing be tailored as both a defensive and offensive strategy in the best interest of the bank under
reference.