> ## Documentation Index
> Fetch the complete documentation index at: https://developers.explorium.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Cost cutting

## Description

The **Cost Cutting** event tracks significant cost reduction measures taken by companies, such as layoffs, budget reductions, downsizing, and restructuring. These events provide insights into a company's financial health, strategic adjustments, and market positioning.

## Use cases:

* **Investment Analysis:** Identify businesses implementing cost-saving measures that may indicate financial distress or strategic shifts.
* **Competitive Intelligence:** Monitor how competitors are adjusting budgets and operations.
* **Risk Assessment:** Evaluate financial stability before engaging with a business.
* **Mergers & Acquisitions:** Identify potential acquisition targets facing financial difficulties.

## Data Schema

**Event Name: "cost\_cutting" (Use this value in the event\_types parameter when querying this event.)**

| Signal               | API Name                    | Description                                                                                        | Data Type                 |
| :------------------- | :-------------------------- | :------------------------------------------------------------------------------------------------- | :------------------------ |
| Cost cutting actions | action\_taken               | A summary of the measures implemented to reduce costs.                                             | string                    |
| Expected savings     | expected\_savings\_amount   | Projected amount of cost savings as a result of the cost cutting measures, if appears in the text. | number (nullable)         |
| Affected departments | departments\_affected       | A list of departments impacted by the cost-cutting measures.                                       | array\<string>            |
| Savings currency     | expected\_savings\_currency | Currency of the projected amount of savings resulting from the cost cutting measures.              | currency\_code (nullable) |
| Link to article      | link                        | Link to article reporting the cust cutting measures taken by the company.                          | url                       |
| Event name           | event\_name                 | Name of the event related to the cost cutting measures.                                            | string                    |
| Event time           | event\_time                 | The timestamp indicating when the event actually occurred                                          | datetime                  |
| Title                | title                       | The headline of the article, summarizing its main topic                                            | string                    |
| Snippet              | snippet                     | A short summary or preview of the article                                                          | string                    |

## Query Example

```curl cURL theme={null}
curl -X POST \
  "https://api.explorium.ai/v1/businesses/events" \
  -H "API_KEY: your_api_key_here" \
  -H "Content-Type: application/json" \
  -d '{
  "event_types": [
    "cost_cutting"
  ],
  "business_ids": [
    "8adce3ca1cef0c986b22310e369a0793"
  ],
  "timestamp_from": "2025-01-01T10:03:03.050Z"
}'
```

## Best Practices

* **Analyze cost reduction trends** to assess long-term business viability.
* **Monitor layoffs and restructuring efforts** to understand workforce shifts.
* **Use cost-cutting data with financial metrics** to create a comprehensive business risk profile.

## Related Events

<Columns cols={2}>
  <Card icon="shield-halved" horizontal title="Lawsuits and Legal Issues" href="/reference/businesses/events/types/lawsuits-and-legal-issues">
    Tracks legal challenges and regulatory issues
  </Card>

  <Card icon="shield-halved" horizontal title="Outages and Security Breaches" href="/reference/businesses/events/types/outages-and-security-breaches">
    Identifies major disruptions and cybersecurity incidents
  </Card>

  <Card icon="code-merge" horizontal title="Merger and Acquisitions" href="/reference/businesses/events/types/merger-and-acquisitions">
    Tracks major M\&A activity
  </Card>
</Columns>