One in five Dutch companies are currently undertaking large-scale cut-backs as a result of the financial crisis, says accountancy firm KPMG.

Of the companies questioned, 90% are actively lowering costs, mainly by reducing the number of management levels and the size of the workforce. Other savings are being found by more efficient purchasing, optimising the supply chain and reducing working capital and IT costs.
But as well as cutting costs, some 90% of firms are also looking at ways to boost turnover, showing the economic situation is not acute, KPMG told the Financieele Dagblad.