Cost Cutting Lessons Learned From China During The Economic Slump
When the economy struggles, one of the first steps taken by companies is to find ways to cut costs. One of the most common areas cut is in the number of employees. For example, the total number of layoffs reported in December 2008 was over 500,000, bringing the total number of corporate pink slips to over 2.5 million. This is the worst year for layoffs since 2001 when 1.6 million jobs were lost as the nation was recovering from the last recession and the 9/11…
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