cost cutting

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cost cutting

The company announced a new cost cutting initiative.

Definition
  1. Noun:
    • The act or process of reducing expenses: "Cost cutting" refers to deliberate actions taken by an organization or individual to decrease expenditures and operate more efficiently.
    • A policy or strategy of reducing costs: It can also describe a formal plan or initiative aimed at lowering overall spending.
Usage
  • "Cost cutting" is typically used in business, economic, and organizational contexts. It is often discussed as a necessary measure to improve profitability, survive financial difficulty, or allocate resources more effectively. It functions as a compound noun, often modifying other nouns (e.g., cost-cutting measures).
Examples
  • Noun:
    • The company announced a new round of cost cutting to address the quarterly losses.
    • Strict cost cutting is essential for the non-profit to continue its operations.
    • The manager proposed several cost-cutting initiatives, including reducing travel expenses.
Advanced Usage

  • "to engage in cost cutting": to actively implement measures to reduce expenses.

    • The board decided to engage in aggressive cost cutting for the next fiscal year.

  • "across-the-board cost cutting": reductions that apply to all departments or areas equally, without exception.

    • The financial crisis forced the university into across-the-board cost cutting.
Variants and Related Words

  • Cost-cutter (noun): A person who specializes in or advocates for reducing expenses.

    • The new CFO is known as a ruthless cost-cutter.

  • Cost-effective (adjective): Giving good value for the money spent; economical.

    • Switching to LED bulbs is a cost-effective form of cost cutting.
Synonyms
  • Expense reduction: The act of making expenses smaller.
  • Budget cutting: Reducing the amount of money allocated for spending.
  • Austerity: Sternness or severity of manner; in economics, difficult economic conditions created by government measures to reduce public expenditure.
Antonyms
  • Spending increase: The act of making expenses larger.
  • Investment: The action or process of investing money for profit, often involving expenditure.
Related Phrases

  • "Cost-cutting measures": Specific actions taken to reduce expenses.

    • The first cost-cutting measure was a hiring freeze.

  • "Drive down costs": To aggressively work to lower expenses.

    • Our goal is to drive down costs without sacrificing quality.
cost cutting

The company announced a new cost cutting initiative.

Noun
  1. the act of cutting costs