While last year was tough for U.S. companies, the pressure forcost cuts seems likely to continue this year. New research fromHackett shows that although finance organizations expect to seerevenue grow 4% in 2010, they are planning additional reductions inboth finance budgets and payrolls.
Sean Kracklauer, president of Atlanta-based Hackett, a strategicconsultancy, says that companies' revenues fell an average 15% lastyear and most weren't able to cut their costs quickly enough tomatch the slide. As a result, “they're trying to catch up” thisyear, Kracklauer says.
Hackett's survey found that companies plan to cut financestaffing by 1.9% this year, following cuts of 4.6% last year, andintend to trim finance budgets by 2.4%, following cuts of 4.7% in2009.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
