Saving costs in a business might be linked with cutting wages and using less qualitative materials for the final product. However, that’s not always the case. If some companies wanted to increase their profits in the past, nowadays, they’re simply trying to survive the inflation and recession, as well as the consequences of the pandemic. Some industries are more at risk than others ―real estate, construction, retail, and manufacturing require a lot of capital to operate properly, which makes cost-saving more difficult in tough times.
