Companies are now settling in to what many believe will be a long recession. More than 60 percent of companies indicated that they believe their business results will not hit bottom until the end of 2009 or into 2010. In response, many employers made significant changes to their HR programs between October and February, including layoffs, salary and hiring freezes, and resetting merit increase budgets for the upcoming year.
However, our results show that many companies are putting the drastic cuts behind them, and are now looking to make smaller cost-cutting changes moving forward.
See full Survey, in pdf format.
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