noun, noun which may take the genitive case particle 'no'
cost cutting; expense reduction; financial retrenchment
Refers to reducing expenses, often in a business or organizational context. Can be used as a noun or as a no-adjective modifying another noun.
会社は経費節約のために出張を減らした。
The company reduced business trips to cut costs.
経費節約策として、ペーパーレス化を進めている。
As a cost-cutting measure, we are promoting paperless operations.
Compound of 経費 (expenses) and 節約 (saving, economizing). The meaning is transparent from its components.