Cash is king : CFOs respond rapidly to pandemic.
A new survey by CFO Research shows finance chiefs are moving aggressively to conserve cash as COVID-19 constricts the economy.
How much damage will the coronavirus outbreak and the accompanying economic downturn do to companies’ sales ?
In a special CFO Research survey, more than half (53%) of U.S. finance executives responding said they estimated a drop of between 1% and 20% in the first quarter. But about 29% of finance executives indicated the hit to sales would be larger — a falloff of between 21% and 50%. About 10% of respondents expected a drop of 51% or more.
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Photo Diane Helendjaris