<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.
Welcome to Exkalibur. I’m Lary Kirchenbauer, President of Exkalibur Advisors, Inc. Please take advantage of our resources to help you build your business ... and let me know what more we can do to serve you.
Read my latest column from the NY Times affiliate, the North Bay Business Journal.
In my former position as a tax partner at KPMG, LLP, I worked closely with Lary on the tax aspects of the plethora of business issues that arise in the life cycle of a start up company. It was unusual to see a senior finance person demonstrate a seasoned business acumen in identifying issues and opportunities, grasping the technical issues, resolving obstacles and implementing change.
Jeffrey Bergmann, V.P. Worldwide Tax, VeriSign, Inc.
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