+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

PwC surveyed 722 top execs across corporate America. The findings should give workers everywhere fear for their jobs.

Aug 23, 2022, 20:50 IST
Business Insider
A man carries his belongings in a cardboard box.Getty Images
  • PwC recently surveyed hundreds of C-suite business executives.
  • The survey found some troubling indicators for corporate employees.
Advertisement

Rank-and-file employees across corporate America ought to be worried. At least, that's the takeaway from PwC's latest survey of top executives.

Earlier this month, the international professional services firm polled 722 executives based in the United States, including chief financial officers, chief marketing executives, chief information officers, and corporate board directors.

These leaders indicated that many of their companies are "taking proactive steps to streamline the workforce." Half of respondents said they worked at businesses that would be soon reducing their overall headcount. An additional 19 percent said their companies were considering or developing plans to do so.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

That news isn't shocking, given the rash of corporate layoffs spreading across major US companies, such as Walmart, Tesla, and 7-Eleven. Those cuts were prompted in part by the "Great Regret," which saw many corporations hire on too many workers during the pandemic. In addition, the economy has been struggling with high inflation and sluggish growth for businesses.

Beyond outright cuts, 46% of PwC's survey participants said their companies were nixing or reducing signing bonuses while 44% said they were rescinding offers to job candidates altogether.

Advertisement

Next Article