Final answer:
Downsizing is the process by which companies reduce their workforce or operations in response to economic difficulties or failure to meet profit goals, which may include closing offices. Economic recessions, like that of 2008-2009, can lead to such downsizing, as companies like Borders experienced. Outsourcing can also contribute to the loss of jobs during company restructures.
Step-by-step explanation:
The news that certain offices are going to close as part of a program's downsizing usually relates to measures taken by organizations to reduce their size, operations, or workforce in response to economic challenges. Downsizing can be partially offset by a range of factors, including economic conditions such as a recession which can lead to cuts in spending by state and local governments.
For example, the 2008-2009 economic recession had significant impacts on businesses like Borders, leading to store closures. Downsizing often results in the loss of jobs as companies try to remain profitable or recover from financial struggles by reducing their operating costs or restructuring. The loss of these jobs can also be caused by outsourcing, where jobs might be moved to locations with lower operational costs or where lower-wage hourly workers replace full-time employees.