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The first step corporations usually undertake involves subtle cuts that have minimal impact on daily operations but can yield significant savings. For instance, companies might begin by removing expensive perks such as snacks, drinks, ice cream, beer, and wine from the office pantry. These small luxury reductions serve as initial signals of cost-consciousness without disrupting work routines.
As the cost-cutting measures deepen, organizations may further restrict employee expenses. This includes prohibiting or limiting business travel and encouraging all meetings to be conducted via video conferencing platforms like Zoom. Such measures not only cut travel and accommodation costs but also adapt the company's operations to a more virtual-friendly environment.