CFOs predict gloomy hiring, economic picture

Filed under: Daily News |

Despite economic gains, the regions chief financial officers are mixed on hiring more employees – with 28 percent saying they will hire new people and 22 percent saying they plan to decrease hiring.

Most – 52 percent – cite cuts in corporate taxes as the best way to create jobs, while another quarter said cuts to personal income taxes was the route to job creation.

The U.S. central region includes Arkansas, Colorado, Kansas, Missouri and Texas.

About 35 percent of the CFOs surveyed will decrease salaries, and only 6 percent plan to increase salaries. There’s also little change for bonuses, with 44 percent planning to reduce bonuses to employees.

Benefits such as health insurance, is the biggest concern for CFOs, while a third are concerned about energy costs.

And the picture won’t get brighter anytime soon. Only 40 percent of CFOs in the region expect the situation to improve, while 49 percent say it will remain the same.

The results are part of a biannual national survey by Grant Thornton International, a global audit, tax and advisory organization.