Undertaking cost-cutting

Slimming down industries

Firms undertake cost-cutting if they are not profitable or not competitive, or if they wish to improve their competitiveness or savings. Typically, cost-cutting means job-cuts, thus significantly reducing labour costs. Cost-cutting can be most severe and controversial when a firm faces bankruptcy.

Type Classification:
E: Emanations of other strategies
Related UN Sustainable Development Goals:
GOAL 8: Decent Work and Economic GrowthGOAL 10: Reduced InequalityGOAL 12: Responsible Consumption and Production