expense reduction
/ɪkˈspɛns rɪˈdʌkʃən/ · ex·pense re·duc·tion
noun
- The act or process of lowering costs or expenditures, especially within an organization or project. The company's expense reduction plan saved $2 million in the first quarter.
- A specific measure or initiative aimed at decreasing spending. Travel restrictions were one of the expense reductions implemented after the merger.
Synonyms
cost cuttingbudget trimmingspending cutcost reductionexpenditure curtailmentfinancial tighteningeconomizingdownscaling
Antonyms
Did you know? Expense reduction programs surged in popularity during the 1970s oil crisis, when companies worldwide sought to survive soaring energy costs by slashing non‑essential spending.