How cazenove+loyd plotted a course through a recessionary sales decline

This article explains how cazenove+loyd responded shortly after the collapse of the Lehmann Brothers in 2008. We received much fewer client bookings with key factors being tightened client budgets and airline and airport strikes. 

From a decline of 30% in sales, job cuts amounted at cazenove+loyd with innovative cost-cutting measures such as a 4-day working week introduced for a brief period. Additionally, marketing to potential new clients was deemed no longer necessary with new leads found to not exist and, in line with cost-cutting measures, slashing this activity would also serve as a means of lowering the marketing budget.

Indeed, profitability remained and still remains a primary concern and is prized over sales. Whilst the market had strengthened significantly in late 2010, cazenove+loyd are now back on track with its recovery. However, the market still remains 'turbulent' with predictions on what may happen tomorrow still a difficult undertaking. 

Read the full article on the recovery of cazenove+loyd since 2008.