CHICAGO, March 22, 2001 (PRIMEZONE) -- American executives tend to be more critical of downsizing's impact on their company than those in other countries, according to a worldwide survey of 2,466 executives conducted by Chicago search firm Cook Associates.
Twenty-four percent of U.S. executives felt their organization was less effective after going through a downsizing, a higher percentage than in any of 16 other countries surveyed, said Cook Chairman John Kins: "Only executives in Austria and Sweden came close with 17 and 19 percent respectively." Kins noted that for executives in nearly every country, the most common complaint was that remaining personnel are overworked.
"Nevertheless," observed Kins, "executives worldwide believe that a downsizing, while often unavoidable, can be beneficial. Forty-eight percent of even the U.S. executives think their organization was more effective, and so do a significant percentage of executives in every country we surveyed. In the Netherlands, Poland and Switzerland the percentage thinking their company was more effective was 61, 62 and 65 percent respectively."
While about half of executives worldwide have experience with downsizing, observed Kins, U.S. executives have experience that goes back more than two decades: "It's fair to say Americans have seen more layoffs than their colleagues in Europe, where until recently companies were reluctant to cut back. It may be that the Americans' relatively greater experience accounts for their milder enthusiasm."
Cook Associates is the U.S. member of IMD International, a worldwide network of search firms. IMD coordinated the survey with the participation of firms in Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, France, Germany, Great Britain, Hungary, Italy, the Netherlands, Poland, Spain, Sweden, Switzerland and the United States.
Founded in 1961 and headquartered in Chicago, Cook Associates is a retained search firm that serves more than 60 industries nationwide. The largest independent search firm in Chicago, Cook also has offices in Atlanta and Boulder. Information may be found at www.cookassociates.com.
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CONTACT: Cook Associates, Inc., Chicago
John Kins, Chairman
312/329-0900
Phil Ryan
212/206-0033