eg. belt-tightening...etc
2006-11-14 03:54:04 · 5 answers · asked by fico585 1 in Business & Finance ➔ Other - Business & Finance
Laying off employees is one of the most popular. Those in charge of layoffs are immune to this and may even get bonuses if they do it sharply enough.
Cutting inventory, consolidating work locations, automating to eliminate workers, eliminating benefits, postponing or minimizing pay raises, cutting direct labor and using outsourced labor (at lower rates), and deferring new hiring are also common.
2006-11-14 03:58:43 · answer #1 · answered by Rich Z 7 · 0⤊ 0⤋
There are many ways and it depends on the business.
Contrary to most people's thoughts, laying off employees is usually a last step measure. It shows instability and is reflected in consumer buying.
Some steps include: renegotiating products and services, un-necessary travel or expense freezes, and hiring freeze.
2006-11-14 04:12:57 · answer #2 · answered by Jerry 2 · 0⤊ 0⤋
Installing low-e lighting, turning the thermostat lower, changing grades of paper or trying to go paperless. Cutting down on corporate travel or checking for the best price on flights.
2006-11-14 03:57:33 · answer #3 · answered by Dawn C 3 · 0⤊ 0⤋
Outsourcing. Even if the per hour wage is more than they paid their full-time employees, not having to pay the insurance/retirement/office space costs means they end up paying less.
2006-11-14 03:58:08 · answer #4 · answered by i have no idea 6 · 0⤊ 0⤋
They lay off employees making max wages and hire new people at far less.
2006-11-14 03:59:29 · answer #5 · answered by tom_nearhood 3 · 0⤊ 0⤋