Tom Peters Slams Mindless Cost Cutting - "Downright Stupid"

I'd previously co-authored an article (along with Sandeep Arora) that appeared in Business Finance magazine titled "The House of Rolling Heads"
in which we decried mindless cost cutting in favor of a more thoughtful
approach which segmented expenses into strategic and non-strategic.

It seems Tom Peters, author of In Search of Excellence, agrees with
us.  On his blog he wrote,

"Instant, mindless cutting of R&D or training or salesforce travel in the face of a downturn is often counterproductive - or, rather, downright stupid. Tough times are in fact golden opportunities to get the drop, and the longterm drop at that, on those who respond to bad news by panicky across-the-board slash and burn tactics and moves that de-motivate and alienate the workforce at exactly the wrong moment."