* Trim staff. Cutting jobs is a quick way to lower costs for salaries, insurance and early retirement benefits. To avoid layoffs, try splitting shifts or cutting work hours.
Renegotiate leases, which often are a company's largest monthly expense. Consider consolidating branch offices. Other savings: cutting back on nightly cleaning services or sharing receptionists with neighboring offices.
* Go through expense sheets item by item. Trim inventory. Consider selling off company vehicles or mothballing them. Evaluate items such as overnight mail and travel.