Few chief financial officers plan layoffs this month, but are increasingly concerned about their businesses

Persons make deal with shields at the Brooklyn Navy Property where regional industrial firms have started production Own Protecting Tools (PPE) on March 26, 2020 in New York Metropolis.

Eduardo Munoz Alvarez | Getty Pictures

In a new survey, 87% of main monetary officers are anxious the coronavirus could have a considerable effect on their companies, up from just 54% two months previously. 

The study, done March 23 to March 25, is PwC’s next CFO study on Covid-19. The to start with survey, done the 7 days of March 9, confirmed that 90% of CFOs anticipated to be back to usual inside of a few months, if the coronavirus finished, but that selection has dropped to 76% in the most recent study.

Also in early March, 46% believed the virus was constrained to precise regions or was an isolated obstacle not impacting their business enterprise, but people who see the virus as a constrained risk dropped to a total of 13% in the latest study.  

A vast majority of the CFOs be expecting productivity losses in the following month as very well as alterations in staffing thanks to slower business enterprise, but only 16% see layoffs. 

The survey also identified that 44% predicted other indicates of workers reduction, such as furloughs. About two-thirds of the 55 main economical officers from the U.S. and Mexico have presently taken steps to contain expenses, and 64% say they are looking at deferring or canceling planned investments.

The CFOs say world wide economic downturn is their top rated issue, at 84%, followed by the economical impact of COVID-19, including on the outcome on benefits of operations and liquidity and funds problems.

The CFOs are from a cross section of industries. 

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