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CFOs Plan for Predicted Downturn

By Net Assets posted 6 days ago

  

(from FEI Daily) CFOs overwhelmingly expect a U.S. downturn by the end of 2020 but few expect an outright recession, according to Deloitte’s 1Q19 CFO Signals Survey. Trade policy and tariffs are fueling expectations of a slowdown. Less than half of CFOs say they have defensive plans for a downturn and just one-quarter cite a detailed plan for offensive planning. The most common defensive actions involve reducing discretionary spending and limiting or reducing headcount. According to the survey, 38 percent say that have already or plan to reduce their headcounts.

In the midst of these concerns, financial organizations worry about the ability to hire talent to keep up with rapidly developing technology, shifting from accurate record keeping to data analysis and forward-looking insights. 

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