The Best Cost Reduction Methods Essay

1245 Words Apr 20th, 2016 null Page
During economic downturn, it is clear that most companies are focused on budget cuts and reduce costs in different ways in order to save themselves from financial crises. Among these ways, layoff and hiring freezes are the main ones that companies’ decision making bodies are argued on as the best cost reduction methods. According to WSN Editorial Board, “In the past decade we have gone from the best labor market in our economic history to arguably one of the worst. It is going to take years, if not decades, to completely recover from the fallout,” said Mood’s Analytics economist Mark Zandi in the Los Angeles Times. In economic depression, it is also difficult finding jobs for college graduates who do not have work experience. To be competent enough in the current labor market, they should have to take internship before their graduation. To join work environment without work experience is challenging, however, internship help students to have work experience, to build a professional network, and to become more disciplined and confident. First, internship is very important in getting work experience for college students who seek jobs after their graduation. Educational or academic experience is common to all students, however, what employers want is work experience by the time they graduate. As students intern, we will have a big opportunity to learn from professionals around us. Therefore, internship is a place where we apply our knowledge that we got from…

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