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25% of Businesses Worldwide Plan 2009 Pay Freezes
Despite signs of the global economy warming, businesses around the world are curbing salary increases – with more than a quarter of them planning to freeze salaries in response to the global financial crisis, according to a global survey.
Salary increases are expected to clock in at 4.7% this year, down from the 6.2% they rose last year. About 40% of U.S. businesses plan pay freezes, and about half of Japan’s businesses will do the same, according to ECA International, an HR research firm that conducted the 53-country survey.
Japan joins Asian neighbors Taiwan, Hong Kong and Singapore as some…
7Apr2009 | Money Morning | 0 comments | Continued
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