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    Business Management: Cost Reduction

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    If you were asked to give a recommendation on ways to reduce costs (staff reduction, benefit reduction, furloughs, etc.) what would you recommend and why?

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    Hello. I provide the following to assist you in formulating your response.

    I was asked to provide a recommendation on ways to reduce costs, I would recommend the following:

    a. Staff reduction: If the costs are so abundant, that a staff reduction is necessary, I would suggest a gradual reduction, to see if the business can recover. In this sense, you are not causing a large layoff and causing employees to be concerned, ...

    Solution Summary

    This solution outlines some ways that managers can reduce costs.