Businesses reduce salary & budget expectations

By Jessica Stanic · 7 April 2009 · Locked

Companies Scramble to Cut Costs Amid Economic Crisis

As the economic downturn takes hold, businesses are bracing for a difficult year ahead. Will they be able to balance the books without sacrificing their workforce?

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Summary

As the economic crisis takes home, companies are looking to reduce their spend on fixed salary and short-term incentive budgets over the next 12 months, according to a survey conducted by global consulting provider Mercer. The survey of 352 companies, indicated that national salary budgets have declined from five to four percent in the past […]