B-to-b media companies reducing personnel costs by 15%

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New York—The majority of b-to-b media companies responding to an American Business Media survey “estimate their total personnel costs for 2009 will be reduced by up to 15%,” the trade group reported

The survey of 60 ABM members was conducted online in May and June by Towers Perrin.

It found that more than 80% of companies have frozen or plan to freeze salary-increase budgets. One-third of responding companies have reduced salaries across the board.

The lion's share of companies are practicing various forms of cost management, including cutting travel and entertainment (78%); freezing or reducing hiring (73%); and implementing targeted reductions in headcount (70%).

The full report is available to companies that participated in the survey.

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