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Initial Cost-Cutting Measures: Companies might start by reducing perks such as snacks, beverages, or entertainment allowances. These are minor expenses that help accumulate savings without overtly impacting staff.
Limiting Business Travel and Meetings: Transitioning face-to-face meetings to virtual platforms like Zoom, and cutting back on travel, serve as mid-level cost-saving measures.
Hiring Freezes: Halting new hires, especially at managerial or specialized levels, is a clear indicator of austerity measures in action.