Is your IT strategy bracing itself for an economic downturn?
Yes, please specify36%
No, it's not relevant to our IT strategy43%
No, but we would like to be prepared19%
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Former Chief Technology and People Officer in Software4 years ago
Economic downturn or not, you must always know what projects can be delayed due to unplanned events.Director in Manufacturing3 years ago
We always have a plan to meet various reduction targets. Our current and past CEO have publicly said on earnings calls that we have the playbook and will use it if necessary. In general the “play” is cut all costs by X% and X gets assigned once we are told to execute. It’s rough since it’s always led to significant RIFs as many of our costs are fixed contracts. That leaves only contractors and employees as the primary choice for cost reductions Eg cut costs by 15%. But out of 100 Million 90 million is fixed costs or almost impossible to cut. So even cutting $10M doesn’t get you 15%. All kinds of gymnastics then take place because you can’t cut everyone…. Bad days and weeks in bad yearsCTO in Transportationa year ago
We are always planning on how to streamline expenses, change project focus and, if necessary, reductions in the team (last resource) in case budget needs to be adjusted.