Posted in: Communication, Internal controls, Special report
You can’t turn on a TV without hearing some talking head going off on the economy, but we’re more interested in what you have to say. We surveyed your peers in
Accounting departments across the country about what they’re seeing in their own companies. This is what they said:
Fully 84% said they’re already feeling a direct impact from the crisis. Of those who said they were impacted, they named the following effects.
- poor performance of company 401(k) — 77%
- cutting discretionary spending — 62%
- drop in sales — 57%
- contemplating layoffs — 39%, and
- slower collections — 37%.
How does that match up with what you’re seeing? What steps has your company taken to weather the storm? Share your stories in the comments below.