Do not do this:

1. Reduce the number of people working for you in order to save money.
2. Induce extra stress in the current staff, leading to:
3. Lower efficiency of current staff
4. Hire consultant or offshore group to achieve target production
5. Reduce productivity across the entire company, at a theoretically lower cost.

Instead, figure out how to improve the efficiency of the current staff.

That’s hard, you say? If it was easy, they wouldn’t need you to solve the problems, would they?

Protip: if you can automate something, that increases efficiency for everyone who touches that thing.

There is an ObXkcd