<A recent WSJ story about cost-cutting focuses on measures taken to reduce the costs for current employees to forestall personnel cuts that business leaders fear will hurt their ultimate competitiveness.
There are some interesting twists on several ideas. Agilent Technologies tried a novel approach by tying a portion of all employees’ base pay to its financial results so costs fall automatically when business slows.
You can also read about how executives at Commercial Vehicle Group asked four employees to devise a plan to save an additional $50,000. Their plan saved $600,000.