Wed.May 08, 2024

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Are Layoffs the Right Way to Reduce Costs?

CFO Share

Facing a downturn and reluctant to reduce staff? Worried you’ll cut too deep and hurt long-term growth? You’re not alone. Layoffs are one of the last cost-cutting methods CEOs choose in a business turnaround. In my years as a turnaround CFO, I’ve seen tragically too many businesses layoff staff without achieving the desired business expense reduction.

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Fed likely to hold rates high before cutting twice in Q4: Conference Board

CFO Dive

Central bank officials this week have signaled that strength in hiring and economic growth may prompt the Fed to keep interest rates high longer than previously expected.

Economics 283
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Trending Sources

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5 Questions Using Risk Assessment Data That Help Advisors Understand Clients’ True Concerns About Risk

Nerd's Eye View

Measuring a client's tolerance for risk is an essential (and required!) step when onboarding a new client, as making any sort of recommendation is impossible without first understanding how comfortable clients may be when their portfolios inevitably experience volatility. Over the years, 2 types of measurement tools have emerged as the standards for assessing risk tolerance: 1) psychometric tests, which feature a series of questions (such as, "What amount of risk do you feel you have taken with

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AI-driven cash flow management startup gets $15M boost

CFO Dive

Panax is among companies that say they’re seeing high demand for finance automation tools as businesses try to navigate an uncertain economic environment.

Startups 290
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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Shiprocket planning for IPO, confirms CFO Tanmay Kumar

CFO News

Shiprocket, a leading e-commerce facilitator, is poised for an IPO, confirms CFO Tanmay Kumar. With ambitions to empower small merchants and ensure lasting business, Shiprocket keeps IPO timing undisclosed.

CFO 59

More Trending

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At The Money: Concentrated Portfolios

Barry Ritholtz

APPLE EMBED At The Money: Concentrated Portfolios: Andrew Slimmon, Morgan Stanley (May 8, 2024) Are your expensive active mutual funds and ETFs actually active? Or, as is too often the case, are they only pretending to be active? Do they charge a high active fee but then behave more like an index fund? AndrewToday, we discuss the advantages of concentrated portfolios.

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World’s Best Banks 2024—Central America

Global Finance

Post-pandemic growth meets soaring remittances. Central American economies have flourished in the pandemic’s aftermath due to the region’s lower-than-average inflation, allowing central banks to impose more-accommodative policies than larger economies worldwide. However, the region received a further boost in 2023 owing to record-breaking remittances and an improving labor market, buoyed mainly by the near-shoring boom, thriving tourism and continued profitability across the commodity spectrum.

Banking 52
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Dr Reddy's CFO Parag Agarwal to Retire, M V Narasimham Takes Over

CFO News

Dr. Reddy's Labs announces CFO Parag Agarwal's retirement in July. His deputy, M V Narasimham, with extensive experience, takes over in August, ensuring a seamless financial leadership transition.

CFO 52
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Attraction drivers for finance function employees

Future CFO

Compensation, work/life balance , and location are among the top attraction drivers for finance function employees , according to a study by Gartner, Inc. A survey of 1,132 finance staff also named health benefits and vacation as attraction drivers among finance employees. “Compensation is usually the top attraction driver and one of the main challenges CFOs have with retaining talent.

Finance 52
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Outcome of tax disputes holds key to Xiaomi’s ops

CFO News

In the past few years, Xiaomi has had to face multiple investigations and legal proceedings launched by the income tax authorities, the Directorate of Enforcement and the customs department on matters such as the alleged evasion of custom duty and irregularities in royalty payments. This has come amid heightened scrutiny of Chinese companies and their investments in the country after a rise in border tensions.

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Leveraging ServiceNow ITSM for Telecom Expense Management (TEM)

E78 Partners

Organizations of different scales that have invested in ServiceNow want to use their ITSM platform to handle TEM and increase operational effectiveness. ServiceNow offers a platform called ITSM (IT Service Management) that large enterprise organizations employ within their IT environment to manage and enhance IT’s service delivery. When set up properly, ServiceNow’s ITSM platform will gather all the data on enterprise IT assets for business units to use and make smarter business decisions.

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HNI investors in offshore ‘blank cheque’ companies receive income tax notices

CFO News

Many resident Indians who bought SPAC shares haven’t disclosed such investments in ITRs. SPACs are established solely to raise capital through a pre-listing offering, aiming to acquire a stake in an existing, primarily unlisted, operating company.

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998: Margins, Metrics, and Payments | Lawrence Herman, CFO, Dwolla

CFO Thought Leader

Lawrence Herman’s path to becoming a CFO unfolded through a series of experiences that changed his understanding of the finance world, beginning with his initial role at Goldman Sachs. Here, in the crucible of intense market dynamics, Herman cut his teeth on complex financial models, where the rigor of long hours refined his capacity to handle pressure and complexity—a foundational skill for any leader.

CFO 52
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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High possibility of India’s 8% growth rate in FY24: CEA V Anantha Nageswaran

CFO News

Highlights: IMF projected a growth rate of 7.8% for FY24. CEA says growth trajectory in first three quarters shows possibility of 8 %. He says would be happy if GDP were to have a 9.

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World’s Best Banks 2024—Asia-Pacific

Global Finance

However, the second-largest economy remains conspicuously absent. In the Asia-Pacific (APAC) region last year—as in 2022—net interest margin (NIM) dynamics were optimal for banks in Southeast Asia, Australasia, Hong Kong and India. Lending rates followed central bank tightening moves, while deposit rates lagged; and across the region, there were some record profits.

Banking 52
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What's the new RBI proposal giving cold sweats to lenders?

CFO News

The Reserve Bank of India (RBI) has proposed stringent new rules for project finance, aiming to minimize risks associated with long-gestation infrastructure projects. These regulations include higher provisioning during construction phases and classification of delayed projects as non-performing assets. However, banks and NBFCs fear these rules may hinder project viability and impede India's capital expenditure momentum.

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SC holds bank employees' interest-free loans taxable as fringe benefits

CFO News

The Supreme Court has ruled that interest-free or concessional loans given by banks to their employees will be considered "fringe benefits" or "amenities" and therefore taxable. The court argued that these benefits are unique to bank employees and are in the nature of a "perquisite," thus liable to taxation. The court upheld the income tax rule, but deemed the fixation of SBI's interest rate as the benchmark to be neither arbitrary nor unequal exercise of power.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Facing delays, exporters seek priority shipment for MSMEs

CFO News

Indian exporters seek priority shipment for MSMEs at Delhi Airport due to delays caused by Bangladesh transhipment, leading to quadrupled air freight costs. Requests made to suspend transshipment facility for Bangladesh cargo.

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SC asks Centre to not use "threat and coercion" in GST recovery operations

CFO News

The Supreme Court directed the Centre to persuade traders to clear GST dues voluntarily without using force during search and seizure operations. The bench emphasized the need for payment to be voluntary and without coercion, allowing individuals time to seek advice and settle liabilities.

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Tata Power plans 66 pc higher capex at Rs 20,000 cr in FY25; to spend 50 pc on renewable energy projects

CFO News

Tata Power plans a 66% higher capital expenditure of Rs 20,000 crore to focus on energy transition and net-zero emissions. The company aims for 70% capacity from non-fossil-based fuels by 2030.

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PM Modi, Ambani, Adani reshaping India to become economic superpower: CNN report

CFO News

India is poised to become a 21st-playing a fundamental role in shaping the economic superpower the country will become in the coming decades, according to a CNN report

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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RBI lifts restrictions on Bank of Baroda's 'BoB World' mobile app, allows onboarding customers

CFO News

The Reserve Bank of India (RBI) has lifted restrictions on Bank of Baroda's BoB World app, allowing the bank to onboard customers through the application immediately.

Banking 40