Attrition
The reduction in staff and employees in a company through normal means, such as retirement and resignation. This is natural in any business and industry. Investopedia Says:
This type of reduction in staff is one way a company can decrease labor costs: the company simply waits for its employees to leave and freezes hiring. Such a method contrasts the more severe labor-reduction techniques, such as mass layoffs. Waiting for attrition is usually better for company morale. Related Terms:
Downsize
Golden Boot
Layoff
Restructuring
Severance Pay |