Downsizing is when a company eliminates jobs and dismisses employees as a result. This is different from firing employees for poor performance. Downsized employees are eligible for government unemployment benefits fired employees are not. Following the 2008 financial meltdown, most companies responded to the loss of business by downsizing their number of employees.
- Doing Good, with the Power of HalfTeenager Hannah Salwen lived with her family in an Atlanta mansion – she even had an elevator that led to her room. A lot can change in a few years. Salwen and her family decided to sell their home, move into a house worth half the value and donate the rest of the sales price to The Hunger Project and its work to end poverty in Ghana, Africa. They tell their story in the book, "The Power of Half: One Family’s Decision to Stop Taking and Start Giving Back." Wharton management professor Stewart Friedman talked with Hannah, now a high school junior, and her dad, Kevin Salwen, about their story of downsizing with a difference.