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20 Interview Questions & Answers

Tell me about a cost-cutting initiative you created at your last position. Was it effective?

Example #1
"In my current position, I changed vendors for a few products and supplies because they were offering a better price. With some, I negotiated better interest rates and asked our service providers to be more competitive. In the first year of joining Company ABC, my cost-saving actions saved them just under $60K."
Example #2
"While working for Company XYZ, I worked very hard to wear many hats so that my employer did not have to hire out certain tasks. For example, I offered to manage the social media accounts because I am good with that. As the assistant manager, it wasn't in my job description, but I knew I could to it, so I offered."
Example #3
"I saved my previous company nearly $1M in the last two years of working there by sourcing a new production partner from China. They offered the same great product at a much more competitive price, and also offered drop-shipping to a range of clients. I love to seek out new opportunities to present cost-savings to my employer."
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