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Reproduced from PwC; Chart: Axios Visuals

Businesses have moved beyond the initial shock and crisis management phase of the coronavirus pandemic, and are shifting their focus to fundamental changes that will reshape their companies, according to the latest survey of top corporate executives from accounting firm PwC.

What it means: While executives say they are concerned about things like bringing workers back into the office, cybersecurity and investments, right now "there is a very common theme around revenue generation going forward that we're seeing dominate the C-Suite," PwC chair and senior partner Tim Ryan said during a call with reporters Monday.

  • For an increasing number of companies, the goal seems to have changed from growing the overall revenue base to taking market share from competitors, as the pandemic is expected to depress spending broadly.
  • Corporate leaders are looking to redraw their workforces and cut costs as they expect to be "fighting for a bigger piece of a smaller pie."

What we're hearing: "There’s a sense that 'We’re settled in, the environment’s going to be challenging for a while but we can compete,'" Ryan said. "It’s going to shape up for an interesting, let’s call it, six to 18 months of fairly intense competition."

The big picture: Companies are simultaneously focusing on long-term strategies, many of which include terms like "digital transformation" and "automation" that are generally code for replacing human workers with machines.

  • These trends had long been in the works, but with uncertainty growing about global supply chains and the availability of cheap overseas goods and labor, top executives look to be pushing to accelerate them.

The bottom line: "One thing CFOs and executive teams are very focused on is fundamental changes in the business model and we’re seeing that move at a rate that, frankly, we’ve never seen before," Ryan said.

Go deeper

Dion Rabouin, author of Markets
Sep 16, 2020 - Economy & Business

Companies are leaving jobs behind to cut costs

Illustration: Aïda Amer/Axios

Businesses are positioning themselves for an increasingly competitive landscape by doing everything they can to ramp up productivity and cast off excess costs.

Why it matters: Much of that cost savings will likely come from cutting jobs and adding new ones more slowly, as companies look to invest in new technology and what Carlyle Group's head of global research Jason Thomas calls intangibles.

In photos: Protests in U.S., across the world over Israeli–Palestinian conflict

A protest march in support of Palestinians near the Washington monument in Washington, D.C. on May 15. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Thousands of people rallied across the U.S. and the world Saturday following days of violence in Gaza and Israel that's killed at least 145 Palestinians, including 41 children, and eight Israelis, per AP.

The big picture: Most demonstrations were in support of Palestinians. There were tense scenes between pro-Israeli government protesters and pro-Palestinian demonstrators in Winnipeg, Canada, and Leipzig, Germany, but no arrests were made, CBS News and DW.com report.

Updated 9 hours ago - World

Biden in call with Netanyahu raises concerns about civilian casualties in Gaza

Photo: Ahmad Gharabli/Nicholas Kamm/Getty Images

President Biden spoke to Israeli Prime Minister Benjamin Netanyahu Saturday and raised concerns about civilian casualties in Gaza and the bombing of the building that housed AP and other media offices, according to Israeli officials.

The big picture: At least 140 Palestinians, including dozens of children, have been killed in Gaza since fighting between Israel and Hamas began Monday, according to Palestinian health officials. Nine people, including two children, have been killed by Hamas rockets in Israel.