CFOs nationally are seeking ways to avoid layoffs, such as salary freezes and other cost-saving measures, according to the quarterly survey by Financial Executives International and Baruch College’s Zicklin School of Business.

“Last quarter, CFOs reported they were undertaking greater responsibilities within their companies; this quarter they have made it clear they cannot do it alone – boards need to work in tandem with CFOs to weather the storm,” John Elliott, dean of the Zicklin School, said.

Options they say they are considering or using to avoid layoffs include:

Redistribution of responsibilities; elimination of bonuses; restructuring; shortened work weeks, mandatory unpaid time off, and options to telecommute.

The CFOs were not optimistic about a recovery this year, with 83 percent predicting we won’t see relief until the first half of 2010 or later.

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