Corporate-wide Cost Reduction Should Be Thoughtful and Systematic

Following a major divestiture, a large financial services company and leading provider of employee-sponsored savings plans and life insurance products realized a need to reduce the costs of its corporate service functions by 25%. North Highland responded with a cost reduction initiative to carefully identify and evaluate short- and long-term expenses, resources, business processes, and service levels. This effort delivered insights that led to thoughtful expense and headcount reductions, saving more than over $29M annually.