Fifty-five percent of companies are cutting their bonuses and 26 percent are reducing their 401(k) matches for employees, according to a survey of CFOs and senior comptrollers by Grant Thornton.
Seventy-seven percent of the 846 CFOs and senior comptrollers surveyed say they are most concerned about the price of employee benefits, while 31 percent are concerned about insurance, and 30 percent about raw material costs. Thirty percent said they are concerned about rising energy costs, but thats down from the 35 percent who were expecting rising energy prices just six months ago.
Twenty-four percent of the respondents report that they are more worried about their organizations ability to continue as a going concern compared to this time last year, 31 percent say they are less worried, and 45 percent say their worries are about the same as last year.
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