Almost two out of five managers expect to cuts jobs in 2016
Two in five managers expect to shed jobs next year, a survey has found. - Credit: PA
Confidence in the economy among company managers has fallen for the first time in five years, according to a new study.
A survey of more than 1,000 managers found that almost two out of five expected to cut jobs in 2016.
The Chartered Management Institute (CMI) said fewer than two thirds of those polled entered the new year optimistic for their company and the country’s economy.
Despite their pessimism, most managers reported moderate financial growth in 2015.
The top three priorities for next year, according to managers, are cost control, improving productivity and managing performance.
The main barriers holding back business productivity were found to be bureaucracy, business culture, outdated technology, stress and bad management.
CMI’s chief executive Ann Francke said: “The number one factor affecting productivity is quality of management and leadership.
Most Read
- 1 Striking new seafront café opens its doors to customers after two-year wait
- 2 Four-bedroom cottage on Dunwich clifftops for sale for £295k
- 3 Thunderstorm warning issued for East of England
- 4 Travel: Stay on the UK's first floating glamping pod...in Beccles
- 5 A14 lane closure in Bury St Edmunds after two-car crash
- 6 Suffolk town named one of the best places to go on holiday in the UK
- 7 'It riles me to the core' - Anger as sofas dumped near Suffolk beauty spot
- 8 Dog walker in his 70s suffers cuts and bruises after attack in west Suffolk
- 9 Neighbours' tribute to crash victim who 'thought the world of her dogs'
- 10 'The children were buzzing' - Ed Sheeran sends video to Suffolk school
“Managers can’t work effectively with their hands tied behind their backs. We know that two in five managers don’t feel empowered to take necessary decisions, so it is little surprise that so many firms report they are bloated by bureaucracy.
“Employers must make it their new year’s resolution to provide them with the skills and autonomy to succeed.”