Sobering news for employees of large Austrian companies: almost half of the company bosses surveyed by PwC do not plan to make a general adjustment in salaries above inflation. “A surprisingly high value, which in practice equates to a reduction in real wages,” says the consultancy. However, 54 percent of CEOs are considering additional employee social benefits and 67 percent rely on one-time payments or bonuses.
For the study, 30 qualitative in-depth interviews were conducted between May and June with managers of large Austrian companies (more than 250 employees) from different sectors.
Half for switching to alternative energy sources
The war in Ukraine, a growing global commodity and energy crisis and steadily rising inflation are causing the most problems for corporate bosses. 30 percent expect their own business to deteriorate in the next six months. As a precaution against excessive energy costs, 60 percent are considering switching from gas to other energy carriers and fuels. 57 percent are also considering switching to alternative energy sources.
To ensure the supply of raw materials and transport routes, 62 percent of the business leaders surveyed have already increased their storage capacity. With regard to their suppliers, 6 out of 10 Austrian CEOs surveyed want to position themselves more broadly in the future. 34 percent say they want to rely more on regional suppliers. Production limited by scarcity of raw materials in the form of short-time working is not an option for 90 percent of the respondents.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
