
The financial outlook for Austrian businesses remains grim, with two in five Chief Financial Officers (CFOs) planning to cut jobs in the next six months, according to a survey by the consultancy firm Deloitte.
The firm conducts twice-yearly surveys of CFOs across Europe, including senior financial officers in Austria. The latest survey gathered responses from 1,839 CFOs across Europe, including 73 from Austria. The findings show a significant decline in confidence since the spring.
“Even though inflation has now dropped to a lower level, uncertainty within the Austrian economy remains high,” said Gerhard Marterbauer, a partner at Deloitte.
More than half of Austrian CFOs now rate economic uncertainty as high, a rise from 40% earlier this year. Two-thirds expect their personnel costs to increase in the coming months, and 40% are preparing to reduce their workforce.
Challenges Beyond the Economy
In addition to the sluggish economic outlook, Austrian executives are grappling with other pressing concerns, including AI-driven cyberattacks and mounting regulatory requirements. Despite these challenges, only one in three CFOs see boosting investment as a priority for their business strategy.