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More than half (52.4 percent) of humanm resources executives surveyed in May reported their firms had instituted salary cutsor freezes. That’sd up from the 27.2 percent of respondents who reportesd similar cutbacksin January, according to the survet by employment consultancy Challenger, Gray & Christmas. At the same the percentage of employers making permanent cuts fell to 43 percentr in May from 56 percentin January, the surveh found. Overall, 86 percentg of respondents said their companieds hadinstituted cost-cutting measures – a slight improvemen t from January, when 92 percent of firmes were slashing costs.
Companies reported using various methods to improvse theirbottom lines, including salary cuts, cuttingy workers’ hours, reducing or eliminatintg tuition reimbursements, furloughs or forced vacations, and temporarg layoffs.
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