However, the authorities are reluctant to make large cutbacks in expenditure for fear of worsening the slowdown.
With curbs on carbon emissions expected and an expansion under way into natural-gas and alternative energy, some firms are considering permanent cutbacks in their refining business.
The move back to BP's corporate headquarters at St James's Square in London's West End made sense, particularly when the group was sitting on spare office space due to earlier cutbacks, said Hayward.
The issue gained new urgency on Thursday, as Lehman Brothers, Wall Street’s most troubled firm, prepared to lay off up to 1, 500 people in its fourth round of cutbacks this year.
The huge cutbacks of the 1990s saddled GM with nearly three retirees for every active worker.
The biggest cutbacks by GM and Chrysler are in city centres where many dealers offer overlapping products and services.
That doesn't mean that consumers aren't making cutbacks. In fact, in many categories consumers seem to be gravitating towards lower-priced items for varying reasons.
Many factories have made cutbacks.
Such cutbacks in spending create a downward spiral that feeds on itself, weeding out non-essential enterprises.
The move brings its cutbacks efforts in the second half of this year to 15% of its annualized output, or 615,000 metric tons per year.
A full 75 percent said they would be making cutbacks.
The region has also been hit hard by cutbacks in defence spending, which has left thousands out of work.
The current combo of a crashing Nasdaq, plummeting consumer and business confide nce, sharp cutbacks in captial investment at home, and ever grimmer news from th e world's second largest economy, Japan, world suggest so.
Funding cutbacks mean that ARAS has had to stop supplying the vials, and also bandages and alcohol pads to treat the burns and wounds caused by repeated injections.
Its cutbacks in spending since then have fallen more heavily on foreign than on domestic production.
Weak consumer spending will lead to cutbacks in business investment plans.
Five countries are in the category of "pessimistic, high cutbacks, and psychologically affected" - France, Japan, Mexico, Argentina and Iceland.
However, a long-term deal is likely to include cutbacks to the defence budget that are even greater than the USD400 billion originally proposed by Obama in April, according to analysts.
It is likely to include a reduction in the overall size of the Bundeswehr, possibly to as few as 150, 000 troops (the "extreme model", says the minister), and cutbacks in weapons purchases.
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