cost savingnoun
ukus[ U ] the fact of saving money, or of spending less money than was planned:
In the present economic climate cost saving is vital to profitability.
[ C, usually plural ] an amount of money that is saved or not spent:
achieve/make cost savings We shall be asking all departments to make substantial cost savings this year.
cost-saving
adjective
The company plans to cut 7,000 jobs in a cost-saving initiative.