Downsizing refers to reductions taken in a company's workforce as part of deindustrialisation or other economic restructuring efforts. This often involves laying off employees, eliminating positions, or offering early retirement packages to reduce the size of the organisation and lower labor costs. Downsizing can be a response to economic downturns, technological advancements that reduce the need for human labor, or a strategic decision to streamline operations and improve efficiency. While downsizing may benefit companies by increasing profits, it can have significant negative consequences for the affected workers and their communities, leading to job losses, financial insecurity, and social disruption. The social and economic impacts of downsizing are often studied by sociologists interested in the changing nature of work and the effects of economic restructuring on individuals and society.