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Responsible Restructuring: Creative and Profitable Alternatives to Layoffs Hardcover – August 1, 2002


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Editorial Reviews

Review

"Responsible Restructuring is a thoughtful, responsible and necessary outline for management of all levels of Corporate America. Professor Cascio has with a short, but powerful, book issued a common-sense blueprint for restructuring in today's rapidly changing business world. A mustread for all levels of management. - Eugene K. Anthony, U.S. Administrative Law Judge, Ret.
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Product Details

  • Hardcover: 160 pages
  • Publisher: Berrett-Koehler Publishers; 1 edition (August 1, 2002)
  • Language: English
  • ISBN-10: 1576751295
  • ISBN-13: 978-1576751299
  • Product Dimensions: 6.3 x 0.7 x 9.4 inches
  • Shipping Weight: 15.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #2,731,607 in Books (See Top 100 in Books)

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Customer Reviews

4.6 out of 5 stars
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See all 7 customer reviews
This book provides a wealth of case studies and examples of proven alternatives to layoffs.
DAVID-LEONARD WILLIS
The book presents an analysis of the financial consequences of alternative restructuring strategies in terms of profitability and attractiveness as an investment.
Gerry Stern
If you are any of these and can imagine that someday you might face this possibility,this is also a must read.
Mike Cook

Most Helpful Customer Reviews

2 of 2 people found the following review helpful By Mike Cook on September 14, 2002
Format: Hardcover
Every once in a while I read something that confirms an intuition I've had for some time.Responsible Restructuring is one of those books.Wayne Cascio does us all a favor by staying away from the moral argument around using massive layoffs to cure organizational ills,and bascially demonstrates that, from a pure business perspective, it is a flawed tactic.From a pragmatic perspective he doesn't rule out the possibility of layoffs,just suggests that CEO's put that card on the bottom of the deck.I actually think many of us knew this but he provides the facts.
In just over 100 pages and seven concise chapters he puts some telling facts in front of us,making a case for restructuring that has more to do with long term success than "making the numbers." What a concept,he is endorsing "being good" over "looking good.'
This is a book to be read by anyone in a management position then shared.If you are a CEO,Board member or Senior Manager who has ever been through a big layoff this is a must read.If you are any of these and can imagine that someday you might face this possibility,this is also a must read.And its quick! I read the entire book on a plane ride from Rochester to Detroit.
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2 of 2 people found the following review helpful By Rolf Dobelli HALL OF FAMETOP 1000 REVIEWER on January 8, 2003
Format: Hardcover
University of Colorado-Denver management professor Wayne F. Cascio says your company will make more money during tough times if it finds a way to grow with its current employees instead of laying them off. Citing ample research (just see those careful footnotes and all those charts and graphs), he argues that it is simply good business to treat employees as assets to be developed, so they can help your organization reach its goals. If you downsize them out the door, you lose their expertise and commitment. Cascio cites companies that restructured successfully - Compaq, Cisco Systems, Sage Software - to illustrate different approaches. He wraps up with a critical bit of training: how to communicate internal information about the company's plans to restructure, always a touchy matter. We from getAbstract refer owners, top executives and human resource managers to this book because they will appreciate its combination of hard facts and how-to guidelines.
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2 of 2 people found the following review helpful By Gerry Stern on October 17, 2002
Format: Hardcover
This book challenges the traditional knee-jerk response of the cost-cutting mentality and charts a better way to organizational success in hard times. Based on extensive research on the approaches companies take to restructuring, Cascio has found a huge distinction between those that see people as a cost (the downsizers) versus assets to be developed (the responsible restructurers). The book presents an analysis of the financial consequences of alternative restructuring strategies in terms of profitability and attractiveness as an investment. Cascio exposes the myths about downsizing and presents the hard facts. He examines the approaches of the responsible restructurers, i.e., high-performance work practices...and explores the practices and experiences of many companies. The final chapter illustrates what to do, and not do, when restructuring. Stern's Management Review finds this book rich in insights and sound advice-very highly recommended!
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1 of 1 people found the following review helpful By DAVID-LEONARD WILLIS on March 2, 2004
Format: Hardcover
Not all companies follow the slash and burn tactics of laying off staff in an economic downturn - some look upon employees as an asset to be developed and follow an approach called 'responsible restructuring' because they know that cutting people can be disastrous, especially in a knowledge-based organization. Cascio investigated the way that companies restructure and identified two main groups, - the larger saw employees as a cost to be cut while a smaller group of responsible restructurers saw employees as assets to be developed by asking how they could change their way of business to use staff more effectively. By analyzing S&P 500 companies over eight years Cascio showed that downsizers were not more profitable nor were stockholders better off.
A medium sized securities trading firm, relying heavily on its employee's knowledge and creativity, experienced a major downturn in revenues and stock price after a decade during which employees generated excellent results and built customer loyalty. However, faced with the fact that employees accounted for more than half of expenses, top management sought the best solution. There were many different approaches to learn from: Merrill Lynch cut one in six employees world wide; Charles Schwab used layoffs only as a last resort; Lehman Brothers insisted on keeping staff in tact and even hiring new talent; Edward Jones kept all staff but cut bonuses. After 9/11 Boeing laid off 30,000 employees while Airbus reduced head count through attrition. As the economy weakened some firms seized the opportunity to strengthen their competitive position through a variety of strategies such as cost cutting, expansion, marketing, and acquisitions. Kodak restructured to compete in the digital era; computer based typesetting revolutionized the newspaper industry.
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