CEOs expect more job cuts through year's end

Source:usatoday.com
Nearly three-quarters of CEOs in the Business Roundtable expect to cut workers in the next six months as sales sag, a survey showed Tuesday, suggesting further deterioration in the job market is likely at least through the end of the year.

Seventy-one percent of CEOs said they expected to cut workers during the next six months, up from 60% when the quarterly survey was last conducted in November and the highest percentage since the survey began at the end of 2002, the Business Roundtable said. Twenty-one percent expected to keep payrolls unchanged; 7% said they planned to add workers.

The survey of 100 CEOs of the nation's largest companies was conducted March 16-March 27.