cost cutting
Reducing business expenses
Cost cutting is the reduction of expenses, especially in business operations.
The term often implies aggressive or systematic measures: The company announced a new round of cost cutting that will eliminate 500 jobs.
As a modifier, it describes initiatives aimed at spending less: cost-cutting measures, cost-cutting efforts.
The practice ranges from trimming waste to slashing budgets in ways that affect quality or workforce.
Mass job eliminations
- redundanciesUnneeded duplications or repetitions
- severanceTermination pay or disconnection
- workforce reductionCutting employee headcount
- pink slipsEmployment termination documents
furloughs · attrition · rightsizing · termination · headcount reduction · early retirement · voluntary separation · hiring freeze
Reducing expenditures deliberately
- cutbacksReductions in spending
- retrenchmentReduction of expenditures
- rationingLimiting distribution during scarcity
- sacrificeGiving up something precious
deprivation · hardship · restraint · scarcity · frugality · parsimony · prudence · self-denial
Making more aerodynamic or efficient
- optimizationMaximizing efficiency or performance
- productivityOutput relative to input
- process improvementEnhancing operational efficiency systematically
- automationSelf-operating system design
lean operations · consolidation · economies of scale · just-in-time · kaizen · waste reduction · operational efficiency
Subtractions from full price
- bargainsGoods at reduced prices
- bulk purchasingOrdering in large quantities
- renegotiationRevising agreed terms
- trimmingCutting away excess
pruning · slashing · paring down · curtailment · travel restrictions · economies · thrift
Organizing future monetary goals
- allocationDistribution of shares
- forecastingEstimating future conditions
- expenditureMoney paid out
- fiscal disciplineControlled government spending
cash flow · expense tracking · budget review · spending limits · capital allocation · zero-based budgeting · line items · discretionary spending
Moving work overseas
- subcontractingHiring others for portions
- nearshoringRelocating work to neighboring countries
- freelancersSelf-employed contract workers
layoffs
Mass job eliminations
- redundanciesUnneeded duplications or repetitions
- severanceTermination pay or disconnection
- workforce reductionCutting employee headcount
pink slips · furloughs · attrition · rightsizing · termination · headcount reduction · early retirement · voluntary separation · hiring freeze · staff cuts
belt-tightening
Reducing expenditures deliberately
- cutbacksReductions in spending
- retrenchmentReduction of expenditures
- rationingLimiting distribution during scarcity
sacrifice · deprivation · hardship · restraint · scarcity · frugality · parsimony · prudence · self-denial · conservation
streamlining
Making more aerodynamic or efficient
- optimizationMaximizing efficiency or performance
- productivityOutput relative to input
- process improvementEnhancing operational efficiency systematically
lean operations · automation · consolidation · economies of scale · just-in-time · kaizen · waste reduction · operational efficiency
discounts
Subtractions from full price
- bargainsGoods at reduced prices
- bulk purchasingOrdering in large quantities
- renegotiationRevising agreed terms
trimming · pruning · slashing · paring down · curtailment · travel restrictions · economies · thrift
financial planning
Organizing future monetary goals
- allocationDistribution of shares
- forecastingEstimating future conditions
- expenditureMoney paid out
fiscal discipline · cash flow · expense tracking · budget review · spending limits · capital allocation · zero-based budgeting · line items · discretionary spending
offshoring
Moving work overseas
- subcontractingHiring others for portions
- nearshoringRelocating work to neighboring countries
- freelancersSelf-employed contract workers
- Government Reformbudget reform, fiscal reform, government reform, policy reform, regulatory reform
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- money managementsaving, budgeting, budget planning, expense tracking, cash flow
- budgetingbudget, budgets, budget app, budget template, budget allocation
- cutbackscutback, cutbacks, decrease, layoff, reduction
- decreasesreduction, decline, drop, fall, decrease
cost cuttingsplurging
Spending freely, excessively
overspending · extravagance · profligacy · spending spree · free spending
cost cuttingexpansion
Increase in scope
investment · scaling up · reinvestment · hiring spree · capital investment
cost, cutting, savings, downsizing, cost-cutting, budget cuts, budget cut