Nearly 60% of Big Companies Cut Their Giving in 2009, Report Says

A majority of big companies cut their giving in 2009, according to a study released Wednesday by the Committee Encouraging Corporate Philanthropy, in New York.

Fifty-nine percent of companies gave less last year, the study found, with 40 percent reducing their giving by at least 10 percent.

Those figures were based on 95 companies that provided data for both 2008 and 2009. Over all, the survey gathered information from 171 businesses.