CFO survey: 'Limited' plans to hire in next year
If this morning's jobs report didn't convince you that unemployment won't come down anytime soon, take a look at a new survey of more than 1,000 chief financial officers at U.S. companies. The CFOs say they have "limited plans" to hire in the next year, and nearly 60 percent won't bring their staffing back to pre-recession levels until 2012 -- or later, The Post's Jia Lynn Yang reports.
Benefits for workers don't look good, either, according to the Duke/CFO Magazine Global Business Outlook Survey. Out of the companies that cut back on employee benefits during the recession, fewer than half say they'll restore perks, such as bonuses, overtime, training and development, pension contributions, and health benefits. With health benefits, only 14 percent said they would go back to the way things were before the recession.
At the same time, the CFOs expect earnings to rise 12 percent and capital spending to go up by 9 percent in the next 12 months. They said wages and salaries should grow 2.6 percent.
The report also showed the credit market is still causing trouble for some businesses. One-third of small businesses surveyed said borrowing conditions were actually worse now than they were in 2009.
Executives were also polled on what keeps them up at night. Their two top concerns? Weak consumer demand and the federal government's agenda.
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June 10, 2010; 2:26 PM ET
Categories: Corporations , Unemployment
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Posted by: chylton | June 16, 2010 4:59 PM | Report abuse
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