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Three in 10 businesses to cut staff

A survey conducted by credit reporting firm Dun and Bradstreet reveals that 28 percent of businesses expect to cut staff by the end of the September quarter, despite a rise in sales and profit expectations since the last survey.

More than half of the businesses surveyed indicated that movements in the Australian dollar in foreign currency markets have affected them.

Dun and Bradstreet CEO Christine Christian says margins remain the biggest challenge for business.

“Australian business executives have given a very mixed outlook on the economy, particularly as employment growth and capital investment confidence deteriorates.”

Christian noted that while there were some positive indications, recovery was still a way off considering the unemployment outlook.

“Expectations in these areas may have turned the corner but they’re not where they need to be,” she said.

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