How to Reduce expenses during a Recession

Resist the temptation to make these bad business decisions during the downturn.
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These tips can help you avoid financial risk, and are especially important during an economic slowdown.
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Successes in cost cutting erode with time. Here’s how to make them last. A McKinsey & Company article.
Tags: Five ways CFOs can make cost cuts stick,making sustainable cost-cuts,cutting costs in the long term,Corporate Finance,Performance transformation,determine the right way to cut costs,cost cutting; cost reduction programs; cost management; cost management programs; expense management; sales, general, and administrative SG&A costs; cost of goods sold; across-the-board cuts; internal benchmarks; external benchmarks, drivers of cost, valu