One in three Irish businesses considering reducing staff amid uncertain economic outlook

The survey found economic slowdown was seen as the top risk facing companies, followed by inflation and the failure to attract or retain high quality talent.

Half of all Irish businesses are considering reducing costs, while one in three may reduce headcount due to the difficulties operating in the current economic climate, a new survey suggests.

The survey by professional services firm Aon also showed 52% of business believe rising energy prices will hinder their company’s ability to grow within the next six months.

“With the increasing likelihood of a global recession, it is clear that economic risk is becoming the driving factor in how Irish leaders make business decisions over the coming months,” said Aon Ireland chief executive Rachael Ingle.

Aon’s Business Decision Maker Pulse surveyed 228 senior business operators from companies employing more than 250 people across Ireland between October and November.

The survey found economic slowdown was seen as the top risk facing companies, followed by inflation and the failure to attract or retain high-quality talent.

“Businesses will need to be agile in the face of current uncertainty and look at ways in which they can enhance their competitiveness,” said Ms Ingle.

The survey suggested Irish business operators were more optimistic than their global counterparts, with 79% of businesspeople globally expecting a recession this year, according to a separate survey carried out by Aon.