PLease help me in some cost cutting measures which we can adopt in an MNC.
From India
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1From India
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Hi Sanjay,
In this period of recession, I can only suggest the following:
1. Hold off on new recruitment.
2. Manage and control overhead expenses from the last 6 months, targeting reductions in areas such as electricity, water, canteen, horticulture, housekeeping, and other non-essential expenses.
3. Analyze major expenses other than salaries and implement new policies without affecting production or employee benefits.
4. Consider reducing extra working hours and transitioning to a 5-day work week to help save during this financial crisis.
5. Explore new opportunities for smaller projects with the assistance of team leaders.
6. Engage employees for cost control suggestions and educate them to unite during this challenging situation.
Overall, cutting manpower may not be a viable solution as skilled employees are valuable assets to the company. The appropriate actions to take will vary between companies, such as export units which may need to take more drastic measures.
Regards,
Shabana Jamal
From India, Calcutta
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In this period of recession, I can only suggest the following:
1. Hold off on new recruitment.
2. Manage and control overhead expenses from the last 6 months, targeting reductions in areas such as electricity, water, canteen, horticulture, housekeeping, and other non-essential expenses.
3. Analyze major expenses other than salaries and implement new policies without affecting production or employee benefits.
4. Consider reducing extra working hours and transitioning to a 5-day work week to help save during this financial crisis.
5. Explore new opportunities for smaller projects with the assistance of team leaders.
6. Engage employees for cost control suggestions and educate them to unite during this challenging situation.
Overall, cutting manpower may not be a viable solution as skilled employees are valuable assets to the company. The appropriate actions to take will vary between companies, such as export units which may need to take more drastic measures.
Regards,
Shabana Jamal
From India, Calcutta
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