員工乃是公司最珍貴的資產，公司績效表現受員工影響之大，但當公司面臨經濟不景氣，市場競爭壓力大，本身經營績效不佳、財務困境，甚至是欲投入其他方面研發之時，上級管理階層不得已做出「人力精簡」之打算，然而，過往文獻在人力精簡對公司績效之影響不盡相同，因而本研究加入企業生命週期虛擬變數與產業虛擬變數深入探討兩者的關係。
本研究以員工流動率、員工平均年資、員工平均年齡衡量人力精簡，以分子為稅前息前折舊攤銷前獲利之總資產報酬率、分子為當年度的淨利之總資產報酬率以及托賓Ｑ比率等三項指標衡量公司績效，實證結果發現人力精簡確實對財務績效有顯著的影響，人力精簡之三項指標對不同的產業與不同企業生命週期的企業財務績效的影響都不盡相同，因此，本文的主要貢獻在於提供給不同產業與不同企業生命週期企業一項參考的依據，公司可以根據所屬產業與企業生命週期來訂定人力資源策略，找出適合他們公司狀況的人才，進而提升公司的績效。建議後續研究者可以嘗試在人力精簡變數再加以著墨，使員工流動率分為自願流動率與非自願流動率，將可對本研究有更深入之瞭解，此外，尚可以嘗試加入其它影響公司績效之變數，讓整體模型配適度更佳，研究更完整。

Employees are the most valuable intangible asset for a company. How they perform will have significant influence on the corporate performance of a company. However, when a company is faced with economic depression, high market competitive pressure, poor performance and financial crisis, or plans to invest in other areas, the administration may have to lay off some staff to lower the costs. Previous research has investigated the influence of headcount reduction on the corporate performance of a company, but different results are found. Therefore, this thesis aimed to investigate the relationship between headcount reduction and business life cycle and industry. For these purpose, T and F test and regression method were used. T and F test was for checking if there was any difference of maturity firm implement headcount reduction strategy between setup, growth, unstable and recession firm, while regression method was used to figure out the relevance between variables and headcount reduction variables in different business life cycle and different industry.
This study adopted employee turnover, employee average seniority and employee average age to measure headcount reduction, and used EBITDA return on asset ratio, ROA and Tobin's q to measure corporate performance. The empirical results showed that business life cycle and industry have a certain impact of headcount reduction on corporate performance in Taiwan. The different headcount reduction index has effects on different industries and business life cycle. Hence, the important contribution of this thesis provides a basic reference for companies to set their human resource strategy in different industries and business life cycle. Based on different business life cycle and industries, administration can choose the suitable talent to enhance their corporate performance. For further research, researchers can divide the employee turnover ratio into volunteer employee turnover ratio or not and add more other control variables to enhance model explanation of regression to make it more complete.

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