Meaning of the word "labor costs" in English
What does "labor costs" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
labor costs
US /ˈleɪbər kɔsts/
UK /ˈleɪbə kɒsts/
Plural Noun
the cost of wages paid to workers, as well as benefits and payroll taxes
Example:
•
Reducing labor costs is a key strategy for many businesses.
•
The company moved its production overseas to lower its labor costs.
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