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Report: CFOs more optimistic about hiring in 2011

U.S. financial executives are more optimistic that they will add employees and see revenue growth next year, according to results of a Bank of America Merrill Lynch survey released today.

The survey involved 801 executives. Of those, 47 percent said they expect their companies to hire additional employees next year, up from 28 percent who forecast hiring last year. Only 6 percent said they expect layoffs, compared with 9 percent last year.

Also, 64 percent of CFOs expect revenue growth in 2011, up from 61 percent last year.

“Despite the challenging economic climate, many CFOs have growing confidence that their companies have weathered the worst of the storm and are poised for expansion,” said Laura Whitley, global commercial products executive at Bank of America Merrill Lynch.

Financial executives gave the economy a score of 47 out of 100, up from last year’s score of 44, the lowest in the 13-year history of the report.

Despite that improvement, CFOs weren’t as optimistic about U.S. economic growth. Only 56 percent said they expect expansion in 2011, compared with 66 percent of CFOs who forecast economic growth a year ago.

Interviews for the survey were conducted from mid-September to late October. The margin of error is plus or minus 4 percent.

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