How to Downsize?

Define the target size and timeline

Identify essential roles, tasks, and costs

Review all expenses and eliminate nonessential spending

Freeze new hiring

Reduce contractor and vendor commitments

Consolidate tools, systems, and subscriptions

Sell or return unused assets and inventory

Renegotiate leases, contracts, and payment terms

Reduce office space or move to a smaller location

Streamline processes and remove duplicate work

Reassign responsibilities to remaining staff

Offer voluntary exits or early retirement if appropriate

Communicate changes clearly and promptly

Follow labor laws and document decisions

Support affected employees with severance and transition help

Monitor results and adjust the plan as needed