Research from Deel finds that seven in 10 organisations in India are working to slash expenses by utilising automation and reducing the number of vendors within their businesses. Â
By Maggie Mancini
Seven in 10 organisations in India are working to cut expenses amid market uncertainty, with even higher cost-cutting planned among start-ups and businesses (84%) and C-suite roles (93%), according to a recent survey from Deel and Rakuten Insights. Â
According to the survey, respondents’ most popular cost-cutting measures include automation and AI (62%) and reducing the number of vendors within each business (61%). The survey also finds that fewer respondents consider staff layoffs (36%), mergers (36%), or salary cuts (29%) as part of cost-cutting measures. Â
High salary expectations among AI professionals in particular present a significant barrier when hiring talent, especially for those hiring exclusively within India (80%). Meanwhile, although layoffs and salary cuts are being considered, they remain less favoured options by India’s business leaders. Â
Remote work, however, has emerged as a way to streamline costs, with 71% of business leaders highlighting it to reduce overhead expenses. Â