Greek CEOs Review Strategies, See More Job Cuts, PwC Survey Says

Most Greek chief executives are reviewing their companies’ strategies and almost half see further job cuts this year, PricewaterhouseCoopers LLP said.

Ninety percent of CEOs are reviewing their strategy and 54 percent made job cuts in the past 12 months, according to an e- mailed statement from PwC’s Greek unit, which interviewed 45 Greek company chiefs between September and December as part of a global survey. Forty-one percent expect more cuts in workforce this year.

Both the figures for job cuts in the past 12 months and expected future cuts were the highest for any country in the euro region, PwC said. Eighty-two percent of CEOs said they were unhappy with their tax burden in Greece and cited that as a reason for turning to overseas markets.

Ninety-three percent of CEOs interviewed said they lacked confidence in the government’s policies for handling the economic crisis, compared with 85 percent in the year-earlier survey.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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