He said more aggressive cost-cutting would be needed.

"It's really a double whammy, a weaker yen and the early fruits of aggressive cost-cutting by the Japanese."

Delta's financial performance had been hurt in the past by aggressive cost-cutting, Mr. Harris added.

Sound financial management helped the station to recover in the 1990s, including debt restructuring, aggressive cost-cutting, and revenue enhancement.

Those former doctors, who were dismissed after St. Barnabas took over, said that aggressive cost-cutting had hurt patient care at the hospital, including the emergency room.

The term is a euphemism for aggressive cost-cutting.

Companies have little incentive to correct misperceptions because large job cuts appeal to investors and Wall Street analysts looking for signs of aggressive cost-cutting.

The company also won high marks for its aggressive cost-cutting following the leveraged buyout, and analysts said it was extremely well run.

Unilever engaged in aggressive cost-cutting, getting rid of the agronomy department, which had looked after plant breeding and seed development.

While sales are rising in Europe, industry analysts said that Ford appeared to benefit mostly from aggressive cost-cutting.