Could CFOs be included among mass layoffs?

With the economy unlikely to improve soon, Shawn Cole, president of executive search firm Cowen Partners, explains whether CFOs should worry about being included in cost cuts.

Small and mid-sized companies hit hard by the pandemic might be tempted to axe their CFO as a cost-cutting measure. But that would be a mistake, Shawn Cole, founder and president of executive search firm Cowen Partners, told CFO Dive this week. 

No public company, regardless of size, nor few large private companies with external investors could go without a CFO, no matter how dire finances became, Cole said. 

Not only is the finance chief’s expertise too important to the company’s survival ability, but the very presence of the CFO plays an integral role in shaping investors’, analysts’ and regulators’ view of the company. 

Source: CFO Dive

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