Sunday, June 28, 2009

11 Ways Companies are Cutting Costs Without Firing Employees


11 Ways Companies are Cutting Costs Without Firing Employees

As you know, global economic are turning down and cause many companies bankrupt or lack of money to pay salary. But, there is a way big companies to counter this phrnomenon:

1. Reducing hours worked per week

2. Offered flexible scheduling

3. Auditing office supply expenses

4. Eliminating or reducing executive-level bonuses

5. Percentage reductions in pay

6. Offering employees unpaid vacations/imposing mandatory holidays

7. substituting telecommuting for in-person work

8. Eleminating unnessary travelling and meetings

9. Hiring freezes

10. Salary/raises freezes

11. Eleminating or scaling back corporate parties, luncheons and events.

The above statement is the best ways that many companies practicing in order to cut cost without firing employees.

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