With economic uncertainty still plaguing our nation’s economic climate, it has become a season for big cuts. Nowadays, with costs on the rise and the economy dragging, businesses should look at three things to cut costs: staffing, rent and capital equipment rather than on cutting staff numbers, though is the most obvious way.
Though cutting the head count is obvious and easy, it is also a morale buster. Though it can meet a short-term imperative cost, it often has long-term repercussions and the cost of rehiring when the economy has turned is expensive.
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