The credit crunch is affecting those credit managers responsible for keeping the cash flowing, according to new research. The survey, by the Institute of Credit Management (ICM), found that more than 15% of Members questioned had recently been made redundant, and exactly half feared for their jobs. The ICM, who are also behind the government's drive to keep cash flowing and encourage prompt payment through the Prompt Payment Code, found that company restructure was the principal reason given for redundancy (45%), followed by loss of business (24%).
Credit professionals facing redundancy as crunch bites deeper Anonymous Credit Management; Jun 2009; Docstoc pg. 8 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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