Nearly 40 percent of CFOs are concerned about paying their workers on time, according to a Coupa Software survey of more than 600 CFOs and finance executives from businesses with $500 million or more in revenue.
Four things to know from the survey:
1. Declining profitability and margins were a top concern for 42 percent of respondents.
2. Thirty-six percent said they were worried about bankruptcy.
3. Rather than laying off employees, many respondents said they would prioritize alternate cost-cutting strategies, including 38 percent who said they would prefer to raise their prices.
4. Thirty-three percent said they would prioritize enforcing stricter spending rules over laying off workers, and 32 percent said they would first try to renegotiate supplier contracts.