How can companies react to a shrinking market?

Question

There are always coming and going trends. Some companies rely on these trends. How can such company react to a shrinking market because the product just isn’t in high demand anymore and isn’t expected to in the foreseeable future.

Is there any way for a company to shrink in a healthy way just like it once grew?

In: 4

Answer 1

I mean you can shrink as you once grew by laying people off that you once hired. There’s really no other healthy way to “shrink”