Cut Cost Without Cutting Your Lifeline

January 29, 2009

Here is an introduction from Tech Journal South’s Seven Ways to Cut Costs Without Cutting Your Lifeline. Although the article was written with Tech companies in mind the principles could certainly be applied to almost any company.

Seven Ways to Cut Cost Without Cutting Your Lifeline
January 29, 2009

By Lorraine Haataia, Ph.D.

When the global economy is in a recession, all companies – from Fortune 500s to small, family-owned businesses – suffer. And some of the weakest ones become casualties, leaving their employees without jobs, and losing customers to their competitors.

During these tough times, owners, executives and managers often make decisions about jobs, resources and facilities they think they can do without, and then they cut.

But this isn’t necessarily the best answer. The truth is, excess waste accumulates in all of these areas during prosperous times. When managers don’t have to worry about the pennies, the company can quickly begin to leak dollars. And it can easily go unnoticed for months and even years.

Read the full article at: