Now city agencies have been told to save money, with Mr Bloomberg pledging to reduce his own office's costs by a fifth.

ECONOMIST: New York city

American Superconductor this morning said it has cut its workforce by about 25% and is consolidating office space to reduce operating costs and improve liquidity.

FORBES: American Superconductor Cuts Staff 25%; Warns On Dec Qtr

Global economic conditions are also speeding the change: one of the quickest ways to cut costs is to reduce the size of your office or even eliminate it completely.

FORBES: The New World Of Work: Time To Think Virtually

The Cabinet Office said taxpayers expected "nothing less" of government than to reduce its own operating costs.

BBC: Whitehall road sign

Third thing we're trying to do is to try to reduce costs overall because the system -- how many of you, you go into the doctor's office, you fill out a form, you get a checkup, you go fill out another form, somebody else asks you for the form you just filled out.

WHITEHOUSE: "White House to Main Street" Town Hall: Elyria, OH