中文摘要：

本文从员工行为取向角度对裁员决策的经济理性进行了分析。裁员决策的依据是员工能否忠实地履行自己的职责。裁员是一把双刃剑，虽然裁的是员工，最受伤的往往却是企业。无论企业的经营状况如何，裁员都应该是一种最后的、不得已的选择。本文探讨了裁员的经济因果，分析了裁员决策中的薪酬策略和目标策略等补救措施，指出了应该如何把握裁员的时机，理性地选择教溃对象．

英文摘要：

This paper discusses the economic rationality of the decision to reduce staff for firms in stagnation from the aspect of employee behavior. Reducing staff is a double-edged sword, but it can hurt the firm more than the employees. This paper discerns the causes and consequences of reducing staff, discusses the alternatives, and indicates how to grasp the best opportunities and rationally choose the areas in which to reduce staff levels. Irrespective of the status of operations, reducing staff should be the last and unavoidable choice. The reason to reduce the staff is whether one can fulfill his duty loyally. The firm can urge the employee to make loyal decisions by raising their salary or lowering performance objectives. Choosing the employees with larger personal fortunes and increasing these employees＇ performance expectations is advisable. Despite the incentive effect, raising performance wage rates is unacceptable during stagnation, because it will leave the firm few incentive strategies in the future. To survive the stagnation, the firm and the staffmust make converted effort to execute more effectively; therefore, it is above all to make sure that the pivotal operation will be authorized and fulfilled loyally. Sometimes, increasing pay is necessary for key posts. In order to release financial tension, the salaries of some unimportant posts can be reduced, and the employees involved can fulfill their duty loyally and will accept a lower salary. In all senses, if the firm can hardly ensure the moral restriction tenable on any post, reducing the staff will be imperative under such a situation. But the one who cannot fulfill his duty loyally is not always the one to be reduced.