Over 50% of CEOs Say They're Considering Cutting Jobs Over the Next 6 Months - and Remote Workers May Be The First Go To
Alarm sirens from the C-Suite about a looming recession are gaining volume in America and elsewhere, but calls back to the office for full-time work are a lot softer. Most CEOs across the globe shared the view that a recession is on the horizon and coming sooner than later, according to a Tuesday report from KPMG on business-leader outlooks. From a report: Nine in ten CEOs in the U.S. (91%) believe a recession will arrive in the coming 12 months, while 86% of CEOs globally feel the same way, according to the findings from the international audit, tax and advisory firm. That echoes the foreboding predictions coming from big name Wall Street investors like Stanley Druckenmiller. In America, half of the CEOs (51%) say they're considering workforce reductions during the next six months -- and in the global survey overall, eight in ten CEOs say the same. One caveat for people who like working from home: Remote workers may find it in their best interest to show their faces in the office as their job security becomes more uncertain. It is "likely" and/or "extremely likely" that remote workers will be laid off first, according to a majority (60%) of 3,000 managers polled by beautiful.ai, a presentation software provider. Another 20% were undecided, and the remaining 20% said it wasn't likely. When asked how they foresaw their company's working arrangements in three years for jobs traditionally in an office, nearly half of U.S. CEOs (45%) said it would be a hybrid mix of in-person and remote work. One-third (34%) said the jobs would still be in-office, and 20% said it was fully remote. CEOs across the globe sounded more keen on in-person work. Two-thirds (65%) said in-office work was the ideal, while 28% said hybrid would be the way and 7% said it would be fully remote. The global findings pulled from U.S. business leaders, but also from CEOs in Australia, Canada, China, India, Japan and certain European Union countries and the United Kingdom.
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