Joe Biden and his recession-denying enablers in the White House are trying to convince Americans that the economy is fine. Still, the financial experts on Wall Street and in the C-suites know the reality of what’s happening with the economy. The recession is either here or landing very soon, and CEOs are planning for it.
A report from KPMG shows that 90% of CEOs in the United States believe we’ll be in a recession in the next 12 months. Globally, the number is 86%.
Now, on to the question of what CEOs will do about it. Over 50% say they will cut payroll and reduce their workforce.
Guess who will most likely be the first to go? The pajama crew; is those who insist on working from home and not going to the office. According to the report, that could go down as a “bad career choice” because not showing your face in the office decreases job security.
In a poll of over 3,000 managers conducted by beauitiful.ai, 60% said it would be “likely” or “extremely likely” that remote workers get the boot first.
Digging deeper into the data from these studies, CEOs worldwide want their employees in the office. Over 65% believe working in the office is ideal. 28% preferred the hybrid model, and 7% didn’t ever want to see the faces of their employees in person.
New labor-market numbers were released, showing the job market is cooling on new hires. In August, there were a million fewer job openings than in July.
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