88% of Firms Planning Cost Cuts in Next 2 Years

• 88% percent of firms expect to pursue cost reductions over the next 24 months, regardless of company performance, a more than 10% percent increase from the last report
• Companies are using tactical cost reduction strategies, such as streamlining business processes and reducing external spend, rather than more strategic cost reduction approaches, such as increasing centralization, outsourcing, and offshoring,” the report said.

Via: Deloitte survey and Deloitte Cost Reduction Presentation