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If you have your own warehouse ,the best way to cut the cost in the Warehouse by going for3PL.
second option is check the total volume handled by your warehouse, the value addition done in your warehouse . the no of manhrs required to do this Jobs. set a KPI for all these activities.
if the work done in your warehouse is by your own staff + outsource staff ensure that the majority of the work is done by your staff and reduce the outsource manpower cost.
sign the contract for outsource manpower on variable basis which will also reduce your cost.
The another way of reducing cost is by usage of packing material received at the time of inbound.( corrugated paper pallets, corner guard,slip sheets, etc)