US firms eye cost-cutting measures

US firms eye cost-cutting measures

The world’s biggest economy is experiencing its highest inflation — 8.3% in April — in almost four decades. Firms are expected to see higher costs going forward, and 20% of companies surveyed in May with revenues ranging from $500 million to $100 billion said they are planning to cut costs in order to offset inflation, according to market researcher and consultancy firm Gartner Inc. (Source: The Wall Street Journal)