But 80 per cent will leave benefits untouched
Nearly one-third of employers are planning layoffs in the face of the recession, according to a survey by HR consulting firm Hewitt Associates.
The survey of 192 companies found 31 per cent are expecting layoffs, while 53 per cent are scaling back recruitment efforts and 47 per cent have put a stop to new hiring.
Only 15 per cent of respondents currently offer, or expect to offer, early retirement incentives, while 80 per cent don't expect to use early retirement programs to manage workforce numbers.
Employee benefits are mostly safe, with the survey finding 80 per cent of employers planning to leave medical, dental and disability benefits untouched, while some employers are even planning to expand benefits offerings.
Only five per cent of respondents plan to cut retiree benefits and even fewer plan to cut retirement contributions or member services.
Most respondents are looking to reduce their benefits costs where possible, but mostly in ways that won't have a direct impact on employees. About one-quarter will be seeking a reduction in benefit insurers' administration fees, commissions and outside supplier fees but about 11 per cent plan to cut internal pension and benefits support staff.
The biggest cuts will occur in business travel with 58 per cent of respondents planning to cut back either substantially or slightly.
