The world wide economic downturn is prompting companies to sell non-core business units, consolidate operations and generally downsize. Lately, everyone seems to have at least one article devoted to some aspect of restructuring a business—see, for example, the cover story in the June 2009 edition of LEXPERT magazine.
Despite the fact that restructuring initiatives often have a profound impact on employees, few articles are talking about the human resources implications of restructuring a business. Employees have valuable know-how, technical knowledge, and relationships with customers, so their departure or disaffection can have significant and unintended financial consequences for a company.
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