The Business Roundtable is a small group of CEOs, but an elite one. Its members are chief executive officers of leading U.S. companies with more than $5 trillion in annual revenue and nearly 10 million employees. They comprise nearly a third of the total value of the U.S. stock markets.
The most recent survey of the group, which looks at their outlook for the next six months, does not yield very optimistic results, particularly in the arena of job cuts.
When asked “How do you expect your company’s U.S. employment to change in the next six months?”, 71% said that they would cut people. To the question “How do you expect your company’s U.S. capital spending to change in the next six months?” 66% said that they plan to decrease spending.
The news is a strong indication that the largest, most well-capitalized companies in the US are still planning plenty of layoffs, and that means that the notion that the rate at which unemployment is growing is not likely to abate.
Douglas A. McIntyre
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