Meaning of “cost saving” in the English Dictionary

"cost saving" in Business English

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cost savingnoun

uk us

[ U ] the fact of saving money, or of spending less money than was planned:

[ C, usually plural ] an amount of money that is saved or not spent:

achieve/make cost savings We shall be asking all departments to make substantial cost savings this year.

The company plans to cut 7,000 jobs in a cost-saving initiative.

(Definition of “cost saving” from the Cambridge Business English Dictionary © Cambridge University Press)