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Firms are less optimistic, cutting headcount and curbing investment intentions," said Cherry.
Many other firms in American Lawyer's top 100, lacking their pricing power, maintained profits only by cutting headcount.
"These funds [saved by cutting headcount] will be re-allocated against new commissions and higher quality acquisitions," said Kirkman.
"UBS is still cutting headcount and losing staff to rivals, forcing the bank to give substantial pay rises to senior investment bankers to retain them," he added.
These deeper learning ideas can be reasonably implemented without resorting to the more dire actions struggling businesses take, like closing operations, cutting headcount or reducing salaries.
His leadership was tested last summer when he spearheaded a cost-cutting initiative dubbed NBC U 2.0, a bid to save $700 million by cutting headcount by 5% across the board.
Similar(50)
He cuts headcount by 10%.
Companies that are exercising restraint, cutting costs and headcount should be sensitive if they are also increasing executive pay.
It is also cutting its staff headcount by 350 as it seeks to reduce operating costs by £15m by next year, as it aims for a target of £27.5m in savings by the end of next year.
In the last two years, Gamesa went on a mission to reduce the headcount, cutting down its manufacturing output in Spain almost by half and increasing sourcing from low cost component suppliers in China a process which has so far saved the corporation 250 million.
The move, Durand says, will depress revenues but cut headcount and overhead expenses in half.
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