The Financial Impact of Organisational Downsizing Practices—The New Zealand Experience

Partly in response to the Asian economic crisis, many organisations in the Asia Pacific rim reduced staff numbers. This research examines the New Zealand experience of this change intervention from 1997 to 1999. This includes an examination of the impact on financial performance, and how the process followed may moderate such an impact. A questionnaire instrument was designed to measure this, to which responses were received from 155 New Zealand for-profit organisations employing fifty or more people. There is some evidence to suggest that those respondents who had downsized over the period of the study reported lower measures of profitability than those who did not (p > .05). Also, ensuring the procedure was perceived as just by the employees, and offering outplacement help to those who lost their jobs, went some way to improving the financial performance of downsized firms (p > .05). This may suggest that if downsizing is necessary then attention needs to be given to how the process is implemented in order to maximise the financial return. Copyright Springer Science + Business Media, Inc. 2005organizational downsizing, effective downsizing practices,

Lipolytic enzymes and hydrolytic rancidity

Lipolysis, the enzymic hydrolysis of milk lipids to free fatty acids and partial glycerides, is a constant concern to the dairy industry because of the detrimental effcts it can have on the flvor and other properties of milk and milk products. However, free fatty acids also contribute to the desirable flavor of milk and milk products when present at low concentrations and, in some cheeses, when present at high concentrations. The enzymes responsible for the detrimental effects of lipolysis are of two main types: those indigenous to milk, and those of microbial origin. The major indigenous milk enzyme is lipoprotein lipase. It is active on the fat in natural milk fat globules only after their disruption by physical treatments or if certain blood serum lipoproteins are present. The major microbial lipases are produced by psychrotrophic bacteria. Many of these enzymes are heat stable and are particularly significant in stored products. Human milk differs from cows' milk in that it contains two lipases, a lipoprotein lipase and a bile salt-stimulated lipase. The ability of the latter to cause considerable hydrolysis of ingested milk lipids has important nutritional implications