Layoffs and staff elimination – what do the executives have on their mind?
In the United States, more than 90% of CEOs are concerned about an impending recession, and more than half are considering staff reductions as a way to get ready.
Over a thousand CEOs of significant firms around the world were questioned by consulting firm KPMG for its KPMG CEO Outlook report.
It was discovered that more than 90% of them anticipated a recession within the next few months.
Only 34% of the 400 US CEOs polled thought the upcoming recession will be brief and moderate.
According to a KPMG survey, more than half of US CEOs are considering job cuts in the next six months as a way to prepare for a potential recession.
These findings corroborate those of 3,000 managers who were surveyed.
According to the survey, 80% of managers are concerned about a possible recession and how it will affect their companies.
73 % of CEOs who participated in the KPMG poll think that a recession will derail projected growth over the coming years.
These polls are released at a time when the world’s economies are in turmoil due to the pandemic, rising interest rates, and the Russian invasion of Ukraine.
These factors have disrupted supply chains and caused inflation to reach levels unseen in decades.
Thoughts?
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