Imo the good companies are continuously managing costs anyway and slash and burn is often costly in the long run unless eliminating waste and excess. The obvious questions when such costs can be reduced is what will not be done in the future? and what was the cost of the reduction? (ie redundancies, contract termination costs) and also are they sustainable reductions or will they come back if/when prices recover. These one offs are usually buried in the abnormal line in the accounts and therefore often hides the true cost of the savings achieved.
Imo the best savings in wages come from attrition or process change/technology and in the current environment the stronger companies should be identifying recently unemployed talent and filling any gaps in their skill base. Imo a bigger and larger prize for SSN is in the production cost / planning and reliability and to achieve this needs a focused and motivated workforce which is often difficult when job security / pay are challenged.
In regards actual costs though, the recent half yearly (see below) gives some indication that a cost reduction process has been underway which is a good indicator. also the debt guidelines appear to ensure a cap on such expenses which is also a good thing imo.
All my opinion only
GLTA
SSN Price at posting:
1.3¢ Sentiment: Hold Disclosure: Not Held
