Travel restrictions. Extravagant company travel may be a thing of the past in many industries. Some 34 percent of companies have already added or increased restrictions to the company travel policy, and an additional 25 percent plan to do so soon, Watson Wyatt found. Some companies are cracking down on nonessential travel and increasing Internet and teleconferencing as an alternative to meetings in person. Many employees are also being encouraged or required to use public transportation for local trips and book economy flights for necessary travel.
Layoffs
Hiring freezes
Higher health costs
Training cuts
Canceled parties
Salary freezes
Reduced merit increases
Pension freezes
Cut 401(k) matches
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Slightlytherefore of 9:41PM December 26, 2009