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Quarter of all businesses to cut staff next quarter

Staff Reporter 3 minute read

Australian businesses remain downbeat about the outlook for the short-term and are waiting to judge the government’s stimulus measures before making any revisions to their business expectations.

According to the latest Dun & Bradstreet Business Expectations Survey business sales and profits expectations continued to decline – 64 per cent of businesses now expect profits to decline in the June quarter.

In addition 57 per cent of firms anticipate a decline in sales.

Employment expectations have also fallen to a new low with 28 per cent of firms expecting to cut back on staff in the quarter ahead.

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Dun & Bradstreet CEO Christine Christian said that while business executives were supportive of government stimulus plans they were yet to witness any real benefits – and didn’t expect to for some time.

“The government’s stimulus packages are critical to providing support for business. However, the deteriorating outlook, particularly for employment, is a sign that no one expects the benefits to be realised immediately and that things are likely to get worse before they get better,” she said.

 

Quarter of all businesses to cut staff next quarter
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