{"title":"Examining the impact of workforce reductions on firm performance","authors":"Kwanglim Seo , Jungtae Soh","doi":"10.1016/j.tourman.2024.105095","DOIUrl":null,"url":null,"abstract":"<div><div>Though workforce reduction strategies have been widely adopted to improve firm performance in the tourism and hospitality industry, empirical evidence of the effects of workforce reductions on performance has been inconclusive. Based on dynamic capabilities theory, this study develops a model and empirically analyzes the impacts of workforce reductions on firm performance across the lodging, airline, and restaurant industries. Further, this study examines whether an industry-specific business model could explain the relationship between workforce reductions and performance. Findings show that while the disruption of organizational processes due to workforce reductions could be detrimental to a firm's dynamic capabilities and financial outcomes, this relationship is moderated by the specific business model the firm adopts. Our study extends previous research by highlighting the important role of a specific business model in explaining the relationship between workforce reductions and firm performance.</div></div>","PeriodicalId":48469,"journal":{"name":"Tourism Management","volume":"108 ","pages":"Article 105095"},"PeriodicalIF":10.9000,"publicationDate":"2024-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Tourism Management","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0261517724002140","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
Though workforce reduction strategies have been widely adopted to improve firm performance in the tourism and hospitality industry, empirical evidence of the effects of workforce reductions on performance has been inconclusive. Based on dynamic capabilities theory, this study develops a model and empirically analyzes the impacts of workforce reductions on firm performance across the lodging, airline, and restaurant industries. Further, this study examines whether an industry-specific business model could explain the relationship between workforce reductions and performance. Findings show that while the disruption of organizational processes due to workforce reductions could be detrimental to a firm's dynamic capabilities and financial outcomes, this relationship is moderated by the specific business model the firm adopts. Our study extends previous research by highlighting the important role of a specific business model in explaining the relationship between workforce reductions and firm performance.
期刊介绍：
Tourism Management, the preeminent scholarly journal, concentrates on the comprehensive management aspects, encompassing planning and policy, within the realm of travel and tourism. Adopting an interdisciplinary perspective, the journal delves into international, national, and regional tourism, addressing various management challenges. Its content mirrors this integrative approach, featuring primary research articles, progress in tourism research, case studies, research notes, discussions on current issues, and book reviews. Emphasizing scholarly rigor, all published papers are expected to contribute to theoretical and/or methodological advancements while offering specific insights relevant to tourism management and policy.
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