Ahead of anticipating a recession, 88% of Singapore CEOs have embarked on or are planning to conduct a hiring freeze over the next six months. About 92% of Singapore CEOs have also taken or planned other steps such as diversifying their supply chain, says KPMG.
About 86% of global CEOs indicate that they are anticipating a recession to hit the global economy in the next 12 months, according to the KPMG 2022 CEO Outlook, which asked over 1,300 CEOs about their strategies and outlook.
Of the Singapore CEOs polled, about four in five – or 80% – of them are anticipating a recession to impact up to 10% of their expected earnings. This is compared to 71% of global CEOs feeling the same.
