Literature DB >> 23797952

Financial crisis and collapsed banks: psychological distress and work related factors among surviving employees--a nation-wide study.

Ásta Snorradóttir1, Rúnar Vilhjálmsson, Guðbjörg Linda Rafnsdóttir, Kristinn Tómasson.   

Abstract

AIM: The study considered psychological distress among surviving bank employees differently entangled in downsizing and restructuring following the financial crisis of 2008.
METHODS: A cross-sectional, nationwide study was conducted among surviving employees (N = 1880, response rate 68%). Multivariate analysis was conducted to assess factors associated with psychological distress.
RESULTS: In the banks, where all employees experienced rapid and unpredictable organizational changes, psychological distress was higher among employees most entangled in the downsizing and restructuring process. Being subjected to downsizing within own department, salary cut, and transfer to another department, was directly related to increased psychological distress, controlling for background factors. The associations between downsizing, restructuring, and distress were reduced somewhat by adding job demands, job control, and empowering leadership to the model, however, adding social support had little effect on these associations.
CONCLUSION: Employees most entangled in organizational changes are the most vulnerable and should be prioritized in workplace interventions during organizational changes.
Copyright © 2013 Wiley Periodicals, Inc.

Keywords:  downsizing; financial crisis; organizational restructuring; psychological distress; psychosocial work environment

Mesh:

Year:  2013        PMID: 23797952     DOI: 10.1002/ajim.22210

Source DB:  PubMed          Journal:  Am J Ind Med        ISSN: 0271-3586            Impact factor:   2.214


  8 in total

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Review 7.  Mental health outcomes in times of economic recession: a systematic literature review.

Authors:  Diana Frasquilho; Margarida Gaspar Matos; Ferdinand Salonna; Diogo Guerreiro; Cláudia C Storti; Tânia Gaspar; José M Caldas-de-Almeida
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  8 in total

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