A CFO Survey: Payroll Cuts Are Imminent

"More than half of the CFOs participating in a recent survey (56 percent)say that they expect the credit crisis to force them to cut payroll in the coming year. Further, 57 percent anticipate slashing operating costs by more than 5 percent, while 50 percent say they predict a decline in company revenues."

[The survey — which polled more than 100 executives who attended CFO magazine's CFO Rising West conference in Las Vegas this week — included reaction from chief financial officers, vice presidents and directors of finance, and controllers.]

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