Majority of CFOs anticipate workplace changes: PwC

Seventy-seven percent of chief financial officers surveyed recently anticipate changing workplace safety measures upon returning to on-site work, according to a report released Tuesday by PricewaterhouseCoopers International Ltd.

Of the 305 CFOs surveyed April 20-22, 65% anticipate reconfiguring work sites to promote physical distancing, 52% anticipate changing and/or alternating shifts to reduce exposure and 50% expect a higher demand for employee protection, according to the report.

As states start to lift stay-at-home orders and reopen local economies, 52% of the respondents said their businesses could return to normal in less than three months if COVID-19 were to end immediately, according to the report.

Meanwhile, 32% of CFOs are now anticipating layoffs, up six percentage points from two weeks ago, and 53% said they are projecting revenue/profit losses to be greater than 10% this year.

More insurance and workers compensation news on the coronavirus crisis here.