There are forecasts that even if markets start growing again, unemployment will continue to escalate.
That's borne out in the latest Bain executive survey, published in the Harvard Business review blog which found that companies are still planning big cuts.
According to Bain, seven out of 10 executives say they are worried about how they'll meet their growth targets in 2009, and six out of 10 are planning for a downturn that they expect will last into 2010. In their gloom, they have turned to Benchmarking as a top management tool for achieving their cost reduction targets. The other tools they plan to use to meet these targets are Outsourcing and Business Process Re-Engineering.
All up, that's a sign that many more will lose their jobs over at least the next 12 months. Insecurity and a lack of trust will continue.
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