strategy

Undertaking cost-cutting

Synonyms:
Slimming down industries
Context:
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.
Subjects:
Purchasing, supplying
Industry
Manufacturing processes
Type Classification:
J: Unconfirmed strategies