Downsize

Real World Example

In the period from 1992 to 2015, many companies downsized due to technological advancements and economic pressures, leading to job losses. This highlighted the tension between technological progress and job security, a debate that continues today. People still worry about machines and computers replacing their jobs, like cashiers being replaced by self-checkout machines. This affects families as losing a job can make it hard to pay for necessities like food, housing, and education. Understanding this helps us navigate today's job market and plan for future careers.