“…In an era of 'new capitalism' characterized by 'stiff international competition, state deregulation of industry, institutional ownership of firms and rapid technological change', organizations have used downsizing in a bid to achieve structural simplicity and flexibility as well as to respond to heightened financial demands (Budros, 1997, p. 229). With the acceleration of 'fast capitalism' (Agger, 1989(Agger, , 2004, performativity is held as a virtue (Fournier and Grey, 2000) and efficiency has become the primary moral responsibility (Jones, 2003) in such a way as to demand downsizing as a 'managerial obligation' (Lämsä, 1999). Even though downsizing is thought to have 'negative impact on the quality of individual lives and whole communities' (Childs, 1997, p. 123) and generally has unfavourable human effects (Budros, 1997), contemporary discourses of organizational change place such matters second in the managerial moral order (Gowler and Legge, 1983).…”