Cost-cutting is not a dirty word: Seven

Seven has defended its record of cost-cutting in the wake of yesterday’s financial results, which saw the company post a $134.89m profit – up from a $745m loss last year – after rounds of cost-cutting and a 7% reduction in full-time employees.

Asked by Mumbrella whether the company could continue to cut its way to profit – rather than generated more revenue – chief revenue officer Kurt Burnette said cost-cutting wasn’t just about letting people go.

Burnette: We’re looking for efficiencies