Economic Recession: 50% of CEOs preparing for layoffs, 39% put a hold on hiring, revealed in survey

Hiring Plan: Amidst signs of global recession, 39 percent of CEOs have said that they are not going to do any hiring in the coming days. At the same time, 46 percent of CEOs have indicated to lay off. These things have come to the fore in the report of KPMG.

In KPMG 2022 CEO Outlook, 1300 CEOs of the world’s largest companies were asked questions about business strategy and outlook. In the survey, questions were asked to business leaders from markets like India, US, UK, Spain, Japan, Italy, Germany, France, China, Canada and Australia. The sectors that were included in this survey included asset management, automotive, banking, consumer retail, energy, infrastructure, insurance, life sciences, manufacturing, technology and telecommunication.

According to the report, the trend of resigning in companies seems to be stopped. At the same time, 39 percent of CEOs have stopped hiring. 46 percent of CEOs have said that they will lay off people in the next 6 months. However, people are very positive about the outlook for the next three years. Only 9 per cent people believe that layoffs can be done.

58 percent of business leaders believe that the impact of the recession will be very short and short term. At the same time, 8 out of 10 people believe that there can be a recession for 12 months. At the same time, more than half of the people believe that the effect of recession will be very short and very less.

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