I'm certainly seeing a strong motivation to cut costs, and one approach I'm closely involved with is replacing costly on-shore, on-site developers with managed service equivalents, with a medium term view of paying near / off-shore prices for a similar service.
The first part of this strategy is defining how the existing development team works, formalising the interactions with the stakeholders, and agreeing the desired processes behind those interactions. From this information you can estimate the required effort to provide a particular level of service, and hence price the service.
This end result of this approach is a set of working practices which goes against at least three of the four tenets of the agile manifesto:
This is not necessarily lower-quality or shorter term, but is perhaps an example of a "more brutal command-and-control" method being introduced with the bank balance in mind.
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