Summary

• Each of the 10 alternatives differs in the amount and time required to initiate and reduce cost.

• Senior leadership should be careful not to make promises it can’t comply with since it may then lose credibility at a critical point.

• A number of cost-cutting alternatives, such as voluntary severence, are fraught with legal and regulatory potholes, so any should be undertaken with great caution and with the approval of the company’s legal counsel.