Economic Downturn: Survey Predicts Further Waves of Layoffs for 2025
The ongoing economic downturn has dampened the mood of many CFOs of Austrian companies: Revenues are stagnating or even declining, and there is little hope for improvement. Two out of five executives plan to cut staff in the coming half-year, according to a survey by consulting firm Deloitte.
2 out of 5 CFOs Plan to Cut Jobs According to Survey
Twice a year, Deloitte gauges the mood among Europe's CFOs, including top CFOs from Austria. For the current survey, 1,839 CFOs across Europe and 73 in Austria were interviewed. The results show: The mood has further deteriorated since the last survey in spring.
"Even though inflation is now back at a low level, uncertainty in the Austrian economy continues," says auditor and tax consultant Gerhard Marterbauer, partner at Deloitte. More than half of the Austrian respondents now rate the general economic uncertainty as high. In the spring, it was still 40 percent. Two-thirds of the CFOs indicate that their personnel costs will increase in the next six months. Two out of five want to cut jobs.
Increase in Investments Currently Secondary
In addition to the negative economic outlook, AI-supported cyber attacks and increasing regulation are causing headaches for executives. Only a third see an increase in investments as an important business strategy at the moment.
(APA/Red)
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