Cost reduction refers to the process of decreasing expenses in order to improve profitability. Companies often implement strategies to lower costs while maintaining the quality of their products or services.

Workforce reduction is the process of decreasing the number of employees in a company, often due to financial constraints or restructuring efforts. This can involve layoffs or voluntary separations.

Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives. It includes decisions about resource allocation, market positioning, and competitive advantage.