How to Reduce expenses during a Recession

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How to Reduce expenses during a Recession – This is a place for the community to provide tips and advice on How to Reduce expenses during a Recession. This topic was created by Allen Chestelson and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - How to Reduce Labor Costs During a Recession

Published: 9 years, 7 month(s) ago | Submitted by Wanna Cub | permalink

The last thing an employee wants to hear is news from her employer about how a recession is affecting business and measures the company has to take to avoid closure. Labor costs can eat up a huge ...

For further reading: http://smallbusiness.chron.com/reduce-labor-costs-during-recession-48489.html ^[1]

Tip 2 - Recession Cost-Cutting No-Nos

Published: 9 years, 7 month(s) ago | Submitted by Andy Nilssen | permalink

Resist the temptation to make these bad business decisions during the downturn.
Tags: bad business decisions, recession business mistakes, business decisions in a recession, business in recession

For further reading: http://www.entrepreneur.com/article/199184 ^[2]

Tip 3 - Balancing IT costs during a recession

Published: 9 years, 7 month(s) ago | Submitted by nomad XX 122 | permalink

For further reading: http://www.computerweekly.com/feature/Balancing-IT-costs-during-a-recession ^[3]

Tip 4 - 5 Things You Shouldn't Do During A Recession

Published: 9 years, 7 month(s) ago | Submitted by Aus Keg | permalink

These tips can help you avoid financial risk, and are especially important during an economic slowdown.
Tags: avoiding risk,recession risk,recessionary risks,avoiding financial risk,financial planning during recession,employment risk,impact recession,recession effect,recession market,recession crisis,employment recession,adjustable rate,budgeting,recession,mortgage,personal debt,personal loan

For further reading: http://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp ^[4]

Tip 5 - Five ways CFOs can make cost cuts stick

Published: 9 years, 7 month(s) ago | Submitted by Haley Slagh | permalink

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

For further reading: http://www.mckinsey.com/insights/corporate_finance/five_ways_cfos_can_make_cost_cuts_stick ^[5]