With fund companies slashing their budgets in this protracted market slump that was made only worse by the terrorist attacks of Sept. 11, consultants are offering firms a bit of advice: Don't cut so much that you eviscerate your ability to communicate with investors.

Companies aren't exactly flinging press releases announcing budget cuts across the Internet, but consultant Chip Roame says they are happening--and on a wide scale. "We hear bitches and moans about not hiring, cutting programs or putting things on hold," Roame said. "I think everyone is. I haven't heard of anyone who is standing pat."

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