OSTD warns against slashing training budget in weakened economy

Firms will regret short-sighted move when economy firms up,
says OSTD president
|hrreporter.com|Last Updated: 07/21/2003

Companies that cut their staff training and development budgets during the current economic downturn risk falling behind the competition when the economy recovers.

That was the message at the opening of the Ontario Society for Training and Development conference in Toronto on Thursday.

"It1s short-sighted to view spending on training and development as an expense," said OSTD President Jason Orr, in kicking off The Knowledge Exchange Conference 2001.