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More than half (52.4 percent) of human resources executives surveyedf in May reported theit firms had instituted salary cutsor freezes. That’s up from the 27.2 percentf of respondents who reported similatr cutbacksin January, according to the survey by employmenty consultancy At the same time, the percentage of employerds making permanent cuts fell from 56 percent in January to 43 percent in May, the survey found. 86 percent of respondents said their companies hadinstituted cost-cuttinyg measures – a slight improvement from January, when 92 percent of firme were slashing costs.
Companies reported using various methodw to improve theirbottom lines, includingv salary cuts, cutting workers’ hours, reducinhg or eliminating tuition reimbursements, furloughs or forced vacations, and temporary layoffs.
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