Greek CEOs See More Job Cuts, Says New Report

According to a report from PricewaterhouseCoopers LLP many CEO’s in Greece are presently reviewing their companies’ strategies and almost half see further job cuts this year. The report, which was an e-mailed statement from PwC’s Greek unit, and interviewed 45 Greek company chiefs between September and December as
part of a global survey, noted that 54 percent of these companies made job cuts over the past 12 months, and revealed that almost forty-one percent expect more cuts in workforce this year.

Both the figures for job cuts in the past 12 months and expected future cuts were the highest for any country in the euro region, PwC said. Eighty-two percent of CEOs said they were unhappy with their tax burden in Greece and cited that as a reason for turning to overseas markets. Ninety-three percent of CEOs interviewed said they lacked confidence in the government’s policies for handling the economic crisis, compared with 85 percent in the year-earlier survey.

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