Cutting costs is a simple way to improve profitability, in theory at least. However in the real world of a dynamic marketplace, imperfect people, unforeseen circumstances, collateral damage and unintended consequences, the spreadsheet seems to lie.

 

No one has ever cut their way to sustainable profitability. Then when the result isn’t met, a new round of cost cutting and the inevitable and perennial restructuring continues. The axe is not your friend.

 

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