Savings shift: Where are most firms scaling back now?
Despite current high unemployment figures, planned layoffs seem to finally be trending downward. But cost-cutting is still a top priority for most finance chiefs.
In fact, the number of companies planning layoffs has dropped by 10%, according to a recent Watson Wyatt survey.
Where are companies looking to cut back now? The Wyatt study puts travel at the top of the list.
Other areas where companies seem to be scaling back more include hiring, salaries and raises, scheduling shorter work weeks and the 401(k) match.
Check out the chart below for the actual percentages of what companies are cutting.
If your staffers are having a difficult time swallowing salary freezes, it may be a good idea to share these findings with them.
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