Cut Costs, but Do it Wisely

In these tough economic times the imperative seems to be to cut costs as much as possible. By itself that phrase "as much as possible" is ambiguous. It's possible to cut costs completely and close the business down. But short of that there are a myriad of alternatives — cut jobs, keep jobs but cut salaries, cut quality, and so on. But it's wisest to cut in such a way that you'll be positioned for turn-around as the economy improves. What is your operation doing now to cut costs?

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