Staples Begins Cutbacks
The office supply chain Staples has responded to recession fears by cutting costs throughout its operations, the Boston Globe reported. Its cost-cutting strategies include dropping advertising, delaying hires, cutting back on travel and even reducing the speed (and thus, gas usage) of its trucks.
With companies cutting back on work orders, the management at the retailer, which is based in the Boston suburb of Framingham, Mass., has cut costs by rummaging through its budget and finding whatever can be cut. There have been no layoffs yet of existing employees, but planned hires have been delayed, with corporate hires held off until later in the year.
While it core business is everyday office supplies, Staples carries a wide variety of electronics, from computers to printers to copiers.