It works you lose £s fast.- rapid cost cutting is rarely sustained.
A radical efficiency program is the only way to lose £s- not true ,real efficiency savings require small changes that can be sustained over a long period.
Outsourcing is an effective way to loss of £s in the long term - no its not , and it carries a high risk of permanent damage.
Reducing staff terms and conditions will result in the £s dropping off - it will also lead to high staff turn over recruitment problems and the use of expensive agency staff.
Cutting out management posts is a good way to lose £s- not a good idea you are more likely to to use expensive management consultants, lose expertise and valuable experience.