Employers throughout Wisconsin and Illinois continue to take action to cut their costs, according to the latest survey by QPS Companies, a Brookfield-based staffing and recruiting firm.
QPS surveyed more than 500 companies, including manufacturers, banks, printers, distributors and information technology firms throughout Wisconsin and Illinois as part of ongoing employment forecasting survey.
The companies were asked in February to report the measures they are taking to deal with the recession. Among the findings:
- 53 percent reported laying off or releasing employees.
- 49 percent are reducing or freezing wages.
- 40 percent are decreasing hours or cutting their work week down.
- 31 percent are reducing or eliminated bonuses.
- 16 percent are reducing or eliminating 401K match.
- 11 percent are reducing or eliminating benefits.
"Many companies are using the downturn as a catalyst for changing their operating procedures," said Mark Immekus, executive vice president and chief sales officer of QPS. "They are really taking a hard look at their costs, and are trying to figure out ways that spending can be eliminated to help keep them afloat during these tough times."
Sorry, the story you tried to comment on is not accepting comments.