A major consumer electronics manufacturer at one time employed half a dozen ergonomic experts to keep its workforce injury-free and productive. Recent layoffs, however, reduced the staff to bare bones, dialing back an investment in risk management that the company apparently had come to view as an unnecessary frill.
While in the short term this decision might appear to be sound, it can be an expensive long-term solution.
Cutbacks on risk management are not a new story, and with today's slumping economy, this scenario is likely to be repeated. When budgets tighten, in the short term many companies look at risk management as an easy area to cut.
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