Cost-cutting strategies in the downturn

Cost-cutting strategies in the downturn
Document type
Paper
Author(s)
Helman, Ruth; Greenwald, Mathew; Copeland, Craig
Publisher
Towers Watson
Date of publication
1 May 2010
Subject(s)
People management: all aspects of managing people, Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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Companies are struggling to balance persistent pressures to cut costs with ongoing talent management needs in response to the sour economy, according to this survey of nearly 700 HR managers in the United States. It's not an easy task and requires picking cost-reduction targets carefully. Leading organisations considering additional staffing actions need to carefully assess people's roles and contributions - especially in terms of their importance to the organisation's strategic focus and growth agenda - to ensure they're not making cuts that could have an adverse impact on the business over time.

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