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Bain & Company's just-released Management Tools & Trends survey says that 59 percent of executives interviewed globally plan to downsize in 2009; this is unsurprisingly up from 2008. Just 37 percent said they did not downsize in 2008 nor plan to in 2009.
71 percent think that government regulation of business will increase over the next five years.
77 percent of North American respondents think that this will be the case
71 percent feel that the current downturn will change consumer behaviors for at least three years 70 percent are very concerned about meeting growth targets in 2009.
64 percent are planning for a downturn that will last at least until early 2010. This sentiment is felt equally across all regions
And what Bain noted as the bright side:
75 percent of executives feel that their company will use this recession to improve their competitive position. Only 69 percent of North American executives surveyed agree.
By size …
69 percent of executives at large companies (more than $2 billion in sales) are planning for the downturn to last until early 2010; 58 percent of small companies (less than $600 million) agree.
41 percent of executives at large companies say their company will have significant layoffs in 2009; 31 percent of executives at small companies agree.
A senior partner with Bain and author of the survey, Darrell Rigby said: "But executives need to think carefully about the design of their downsizing initiatives. The way layoffs are implemented can have a lasting impact on a company's culture, and Bain's calculations show that unless jobs are eliminated for at least 6-12 months the company will fail to earn a financial payback."
Find the press release with the survey results here.
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