Alium Partners: Jobs Cut & Recruitment Freeze

24/06/2008

British firms are suffering job cuts, a sharp decline in sales and a freeze on recruiting permanent staff, according to a survey of the UK’s leading business troubleshooters.

There’s also been a severe tightening of company expenses.

More than 40 per cent of the interim executives questioned by Alium Partners said their most recent client company was feeling the impact of the credit crunch. They also reported the economic downturn was curtailing expansion plans.

The interims reported the downturn was manifesting itself through: tightening on expenses (49%), downturn in sales (42%)., recruitment freeze on permanent staff ( 30%), job cuts (29%),curtailing expansion plans at 21% and 7% or training cutbacks.

Nick Robeson, Chief Executive of Alium Partners, said: “Our survey provides a revealing glimpse into the current state of British commerce and industry because interim executives are able to view difficulties objectively. It’s interesting that most interims say a clear strategy (41%) and strong leadership (32%) are key factors in the companies weathering the current economic climate.”

<< Latest news list