CFO Magazine recently interviewed three business leaders about headcount reductions. There are some valuable nuggets in this article:
 
 

1. Cut outputs – not inputs.
2. The cost of hiring and training often outweighs the savings from force reductions.
3. Don’t overlook employee recognition.
4. Have a short-term cash flow projection – no matter what.
5. Talk to your bankers – don’t hide from them.
6. Consider increasing unpaid vacations – some people might consider it a perk!