Canadian IT leaders plan to cut costs, expand revenue base: study

The majority of Canadian IT leaders are concerned about the economy in the U.S. this year, and are taking action to counter those worries, according to a recent survey.

The study was conducted by London, Ont.-based research firm Info-Tech Research Group, on behalf of the Canadian Advanced Technology Alliance (CATAAlliance).

More than 70 per cent of respondents believe the U.S. will fall into recession this year and are taking measures like cutting IT costs, specifically 33 per cent are reducing overhead and 24 per cent delaying capital spending.

Also, some IT leaders are looking to expand company revenue base, with 31 per cent of respondents enhancing product or service offerings and 30 per cent growing the business outside of North America.

“It appears that Canadian IT executives view the U.S. economic challenges as an early warning signal of potentially tough times to come for Canadians, and are ensuring that they do the right things to compensate,” said John Reid, president with CATAAlliance.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now