Perceptions of Organizational Downsizing and Job Satisfaction Among Survivors in Nigerian Banks

Abstract

The objective of the study was to determine how survivors’ perception of downsizing as financially effective, inevitable, and liberating for victims affect their job satisfaction. Data was collected from 150 survivors in 8 banks operating in Makurdi metropolis. Pearson product moment correlation coefficient and regression were tools of data analysis. The study revealed that survivors’ perception of downsizing as financially effective and inevitable negatively affect their job satisfaction. Though the relationship between survivors’ perception of downsizing as liberating for victims and job satisfaction was positive, it was not statistically significant. The analysis of variance showed that there was no difference in survivors’ perception of downsizing among the banks studied, while their level of job satisfaction varied. On the whole, we conclude that downsizing negatively affects the job satisfaction of survivors.