Reducing expenses? It's pretty easy:
- Review T&E
- Review corp lease/building portfolio
- Reduce headcount
- is easy. very easy actually. banks are notorious for nonsense T&E
- is not so easy when the bank is trying to force everyone back to work in an effort to get them to quit. If you start slimming down on real estate that contradicts your efforts to get people to return to the office
- not so easy.. if you start doing mass layoffs you are going to get a call from the fed. So what do you do? you squeeze so people leave on their own. You do small targeted cutting, you change everyone's job titles, you change the comp structure, the bonus structure...
Squeeze out every last drop.... People will leave on their own...