A Quick Lesson in Budget Slashing

January 1998
Financial Executive;Jan/Feb1998, Vol. 14 Issue 1, p11
Academic Journal
The article discusses the benchmarking aspect of Lucent Technologies' departmental costs. According to Lucent's chief financial officer Don Peterson, the finance organization at the $52 billion company is equals only one percent of its revenues, which is down from about two and a half percent a short time ago. He also says that his company's human resources costs are down, while information-technology expenses are holding steady. Peterson took over as the chief financial officer in 1996 and cut costs by laying off 500 people.


Related Articles

  • Be it Ever So Humble.  // Business News New Jersey;04/10/2001, Vol. 14 Issue 15, p2 

    Reports that Deborah Hopkins, chief financial officer of Lucent Technologies Inc., has assured the public that her company is not bankrupt.

  • What CFOs Want from IT. VAN DECKER, JOHN E. // Financial Executive;Jul2012, Vol. 28 Issue 6, p66 

    The article considers the role of corporate chief financial officers (CFO) in the purchasing and use of information technology (IT) by their companies. A survey conducted by the Financial Executives Research Foundation and the high technology company Gartner finding that over 40 percent of CFOs...

  • CFOs unhappy with travel cost savings.  // Accountancy;Dec2008, Vol. 142 Issue 1384, p27 

    The article reports that fewer than two-fifths of chief financial officers (CFOs) worldwide believe that the cost savings offered by corporate travel programmes are sufficient. CFOs' belief that travel cost management has not made a large contribution to companies' efforts to control costs is...

  • Untitled. Beaton, Debbie // Farmers Weekly;6/22/2012, Vol. 157 Issue 25, p11 

    The article focuses on the Cropbench benchmarking system, an online tool developed by the Home-Grown Cereals Authority (HGCA) to help farmers calculate the costs of producing wheat in Great Britain. Ex-arable monitor farmer Hugh Broad is among those who used the system for their business. He...

  • IT cost benchmarking: Drawing the right conclusions. Krotov, Vlad; Ives, Blake // Business Horizons;Nov2016, Vol. 59 Issue 6, p645 

    The use of managerial control ratios for benchmarking IT costs is widely accepted. This installment of Accounting Matters informs CIOs about IT managerial control ratios and the assumptions underlying the use of these ratios in IT cost benchmarking. Incorrect use of these ratios and violation of...

  • CFOs: Cost Control, Process Improvement Are Key. Freeman, Lisa // Credit Union Journal;1/3/2011, Vol. 15 Issue 1, p15 

    The article reports on the initiative of chief financial officers (CFOs) to set cost control and improvement of examination process for credit unions as their top priority in 2011 in the U.S.

  • Cutting Costs is Most Important.  // Community Banker;Feb2001, Vol. 10 Issue 2, p52 

    Reports on a survey of chief financial officers in the United States concerning their cost reduction efforts. Role of expense reduction in business success; Role of financial executives in growth plans; Holding of the survey by RHI Management Resources.

  • Invest aggressively. Fisher, William C. // McKnight's Long-Term Care News;Aug2012, p20 

    The article offers the author's insights regarding the questions and potential conflicts which should be asked by the chief financial officers (CFOs) on investments. It states that the reporting can show that the investments are good if the benchmark changes. It says that liking and knowing an...

  • To Raise Your HR Profile, Follow the CFO's Evolution.  // Toledo Business Journal;May2014, Vol. 30 Issue 5, p26 

    The article offers ways on how to boost the profile of human resources (HR) utilizing the evolution of chief financial officer (CFO) position in the U.S.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics