Cost Reduction Strategies ZIMBABWE local authorities can adopt in the face of the liquidity crisis.

Abstract

Local Authorities need to adopt cost reduction, cost cutting and cost containment strategies if they are to survive the current harsh economic environment. There exist common cost reduction, cost cutting and cost containment methods like reducing staff, reducing purchases, delaying salary increments but this is not enough. Local authorities need to come up with sustainable cost reduction, cost cutting and cost containment strategies. This can only be achieved if considerable investment in time and the human mind is provided for this task. Local authorities need to plan for cost reduction, cost cutting and cost containment approaches if they are to survive the current wave of economic challenges. This paper will demonstrate sustainable cost cutting measures.