Mike Musso: Is Cost-Cutting Not Cutting It? TRY GROWTH
By Mike Musso, Managing Director
The recent election cycle has been non-traditional, to say the least. Post-election news has been littered with rhetoric about hacking by Russia, fake news, reduced regulations, cabinet appointments and recounts. The world around us is changing, and the business climate certainly will be impacted. Some say it is about time.
That’s largely due to the well-documented stagnation in the U.S. economy. The 2008 to 2011 economic correction cycle resulted in many companies taking the appropriate actions to cost-cut and downsize. Such a belt-tightening was not only a method of survival, but it was also necessary — and, for the most part, effective. Many companies returned to profitability, and a deep sigh of “we made it” permeated most boardrooms and Sunday family dinner tables. But a funny thing happened on the road to recovery: growth stopped.