Well-designed benefits: a lever for organizational resilience
Organizations facing economic tension and inflation are advised to invest in human capital rather than merely cutting costs to recover from crises.
Sir Jim Ratcliffe's brutal cost-cutting pays off - but reputational damage is done
Sir Jim Ratcliffe's cost-cutting measures at Manchester United have resulted in significant financial improvement but have also caused reputational harm to the club.
Manchester United's transformation plan generates quarterly profit, despite revenue decline
Manchester United reported a quarterly profit driven by cost-cutting measures, despite a drop in sponsorship revenue and ticket sales due to their absence from European competitions.
Savings Decision to Be Reversed: District Administrator Concedes to Carnival Revelers
Ebersberg's district administrator plans to reverse a cost-cutting measure after being criticized during local carnival celebrations.
Man Utd profits soar as latest financial results revealed after Sir Jim Ratcliffe cost-cutting
Manchester United posted an operating profit of £32.6 million for the first half of the financial year, a significant turnaround from the previous year's loss, largely due to cost-cutting measures implemented by co-owner Sir Jim Ratcliffe.
Ukraine's Strategy Aims to Raise the Cost of War for Russia to Achieve Peace
Ukraine plans to increase the cost of the war for Russia in order to achieve peace, focusing on enhancing air defense, halting Russian attacks, and cutting off economic resources fueling its war efforts.
Volkswagen Cuts Costs: Factory Closures and 60 Billion Euros in Savings
Volkswagen plans to cut costs by 20% across all brands by 2028, with potential factory closures aimed at achieving savings of up to 60 billion euros.
Automotive Industry: Volkswagen Lets the Next Cost-Cutting Hammer Swing
Volkswagen is under increasing pressure to implement more aggressive cost-cutting measures as it prepares for its upcoming annual press conference amid ongoing crises and challenges.
Auto Industry: Explosive VW Cost-Cutting Round
Volkswagen is facing pressure to reduce costs despite a recent influx of six billion Euros, with management proposing a significant restructuring initiative that could affect employees amid bonuses for top executives.
VW wants to improve profitability and plans extensive cuts
Volkswagen's CEO Oliver Blume has announced a major cost-cutting program aimed at reducing expenses by 20% across all brands by 2028.
Morrisons 'to sell dozens of in-store pharmacies' as it scrambles to slash costs
Morrisons is planning to sell several of its in-store pharmacies to reduce costs amid significant financial losses.
Cost-Cutting Measures: The Church is Overwhelmed by Reform Pressure
The planned cuts in the Protestant Church reflect an increasing severity in response to financial pressures.
Volkswagen plans to cut costs by 20% by 2028
Volkswagen intends to reduce its expenses by up to 20% by the end of 2028 to recover sustainable profitability amid increasing market challenges.
Companies streamline structure, and Brazil eliminates more than 300,000 managerial and director positions in 6 years
Brazil has seen the elimination of over 300,000 managerial and director positions since 2020 due to corporate restructuring and cost-cutting measures, amidst a growing overall job market.
Business Ticker: Volkswagen aims to cut costs by 20 percent by 2028
Volkswagen plans to reduce its costs by 20 percent by 2028, with potential factory closures on the table, as announced by CEO Oliver Blume and CFO Arno Antlitz.
BBC must cut ten percent of costs
The BBC is facing significant financial pressure and must reduce costs by ten percent over the next three years, amounting to potential savings of up to £600 million.
BBC announces hundreds of millions in additional savings
The BBC has announced a 10% budget cut over the next three years, which could amount to hundreds of millions of pounds in savings.
China turns old oil pipeline into new carbon highway in green cost-cutting gambit
China has successfully repurposed an old oil pipeline for carbon dioxide transportation, marking a significant step towards achieving its decarbonisation goals.
"Bad decisions keep piling up": the strike at Ubisoft followed by 1200 employees, according to the unions
A significant strike at Ubisoft France is seeing participation from 1200 employees as the company faces major restructuring and cost-cutting plans.
Sumitomo Heavy Industries to Reduce Employee Numbers by 500, Halting Re-employment Offers for Seniors
Sumitomo Heavy Industries has announced a plan to reduce its workforce by 500 employees as part of cost-cutting measures.
Santander prepares a significant cost-cutting strategy and efficiency improvements in its strategic plan
Santander is set to implement significant cost-cutting measures and efficiency improvements as part of its new strategic plan, which will also focus on integrating artificial intelligence solutions.
PGG again needs state aid. Cost-cutting continues
Polska Grupa Górnicza (PGG) requires additional financial support from the government due to declining coal production and market challenges.
Tensions rise among ITV daytime stars over shared toilets and dressing rooms
ITV daytime stars are experiencing low morale due to shared toilets and cramped dressing rooms in the new studio, leading to frustrations among staff.
NHS hiring bans in cancer units shortsighted and dangerous, doctors warn
Doctors warn that NHS recruitment freezes for cancer treatment units amidst cost-cutting measures are shortsighted and potentially hazardous given the rising demand for cancer care.
Maersk announces layoffs of up to 1,000 employees
As part of a cost-cutting plan, A.P. Moller Maersk will lay off 15 percent of its administrative staff, amounting to approximately 1,000 employees, primarily affecting its Denmark headquarters.
GOP must race for new 'big, beautiful bill' to slash costs before midterms, top House Republicans warn
House Republicans are calling for urgent action to pass a substantial cost-cutting bill before the midterm elections, emphasizing the need for progress within February.
Mediaset tries to cut costs in light of low audiences and merges the set and newsrooms of Informativos Telecinco and Noticias Cuatro
Mediaset is merging the news teams and recording locations of Telecinco and Noticias Cuatro to reduce costs amid historically low audience ratings.
Demant in major cost-cutting round: 700 employees globally may be affected
The Danish hearing aid company Demant plans to undergo a cost-saving exercise over the next two years, expected to impact 700 employees worldwide, with 150 of those in Denmark, due to lower market growth in the hearing aid sector.
Canada Stops Issuing Visas Inside Russia
Canada has halted visa issuance at its processing centers in Russia as part of a cost-cutting and modernization effort, not a change in immigration policy for Russian citizens.
The number of holiday reservations has increased, but their value is lower. Tourists are cutting costs
This winter season has seen an increase in reservations for ski resorts, but tourists are opting for cheaper options and cutting costs on travel.
The new CEO of Munich Re irritates his employees at the start
Christoph Jurecka's transition into the role of CEO at Munich Re has been rocky, as he inherits a cost-cutting program from his predecessor that raises concerns among employees about its implications.
The Truth: Crash for Show
The insurance industry is reportedly using experienced stunt drivers to stage crashes for cost reasons, leading to various accidents along a slippery road in Osnabrück.
Ubisoft closes Assassin's Creed studio amid unionisation efforts, with 71 jobs affected
Ubisoft has closed its Halifax studio in Canada, affecting 71 jobs, shortly after employees voted to unionise, citing cost-cutting and restructuring as reasons for the closure.
Ribera Salud's other business in Madrid is a large laboratory also marked by management based on 'profit'
The scandal-hit Ribera Salud manages a public center in Madrid that conducts tests for nearly 1.4 million residents, facing worker complaints about overwork and cost-cutting practices.
Dark Forecast: A Major European Sector Is Threatened with Losing 200,000 Jobs. The Culprit Is One
Analysts warn that the European banking sector could lose over 200,000 jobs in the next five years due to the accelerated adoption of artificial intelligence and the closing of branches, pushing banks to cut costs and shift operations to digital channels.
The banking sector faces 200,000 layoffs. "They are pressured to reduce costs"
Analysts predict that the European banking sector could lose over 200,000 jobs in the next five years due to the increasing adoption of artificial intelligence and the closure of branches, as banks aim to cut costs and shift more operations online.