The history of business cost reduction methods
You may be looking for ways to reduce your operating costs. Some companies may look at worn-out methods to cut expenses that require either doing more with less or taking something away from someone. You maybe looking at cutting travel expenses, implement a hiring freeze, and cancel holiday parties and events.
If those measures are not enough, you might even reduce perks, freeze salaries, or reduce wages or eliminate year-end bonuses. If this doesn't work, companies may look at cutting workers' hours, force unpaid vacations or furlough programs, or conduct layoffs.
We are not excited about any of these strategies because they are just bandaids and are not long- term cost savings solutions.
Wether you agree or not we know you will find value in our cost reduction services.