Staying Lean

Monday 2nd November

Business Breakfast host Brandy Scott will be joined by Ziad Makhzoumi, former CFO of Arabtec, a serial entrepreneur, professional restructurer and corporate for our second edition of Back to Business as Dubai Eye 103.8 to explore how companies are ‘Staying Lean’ during these unprecedented times.

For many companies in the UAE, cutting costs quickly has been a necessity during the pandemic. While costs have to be cut sharply – and the reality is that for many organizations - being selective is key. How can companies save money – without losing their competitive edge?

FOCUS


How can companies save money – without losing their competitive edge? 


THE CHALLENGE


For many companies in the UAE, cutting costs quickly has been a necessity during the pandemic. From giant enterprises like airlines to small family firms, countless companies around the world have seen a sharp drop in revenue. That means costs have to be cut equally sharply – and the reality is that for many organizations, salaries are the #1 cost. If you want to cut costs, you’ve got to cut headcount. Thankfully, it’s not the only area the CFO can target.


THE SOLUTION

The trick is to “trim the fat but retain the muscle”, which is far easier said than done. Reduce the workforce while retaining A-players. Where possible, renegotiate contracts with banks, landlords and other key suppliers. It’s tempting to cut back on outsourced services like consultants, training and advertising – but in crisis you need them more than ever. Being selective is key. 

THE PANEL

[Left to right] Brandy Scott, Dubai Eye 103.8 presenter, Ziad Makhzoumi, former CFO of Arabtec, Naim Maadad, CEO and Founder of Gates Hospitality and Shukri Eid, Managing Director of Cisco Middle East.

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