Nearly half (48%) of organizations globally are decreasing or freezing existing staffing levels, up from 20% in the March study. For those planning layoffs, median staffing level decreases are approximately 7.5%. Only 3% of organizations globally are planning to increase staffing levels.

The number of organizations that expect business results to be significantly worse than targeted levels for 2008 has more than doubled since March, per Hay Group’s latest Global Employee Pay and Staffing Survey.

A similar study in March 2008, only 12% of organizations expected their business results to be significantly worse than targeted levels. However, eight months later, that number has jumped to 31%. Sixty-two percent of organizations indicate that business results are staying the course, and are expected to be close to targeted levels in 2008. Among the 2,589 organizations across 6 continents that responded to the survey, Africa and the Middle East have been the least impacted by the downturn – with only 9% of African companies and 12% of Middle Eastern companies reporting business results significantly below target.

Read more here.