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More Finance Cuts Ahead

Companies play catch-up despite rosier outlook

By Susan Kelly | Updated on April 15, 2010

While last year was tough for U.S. companies, the pressure for cost cuts seems likely to continue this year. New research from Hackett shows that although finance organizations expect to see revenue grow 4% in 2010, they are planning additional reductions in both finance budgets and payrolls.

Sean Kracklauer, president of Atlanta-based Hackett, a strategic consultancy, says that companies’ revenues fell an average 15% last year and most weren’t able to cut their costs quickly enough to match the slide. As a result, “they’re trying to catch up” this year, Kracklauer says.

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