As signs mount of an economic slowdown in America, half of U.S. companies are planning to cut jobs, even as business leaders fret about difficulties hiring and retaining talent, according to PricewaterhouseCoopers (PwC).

While PwC’s most recent Pulse Survey shows business leaders saying that acquiring and retaining talent remains a serious risk, they’re also streamlining headcount.

Half of the more than 700 U.S. executives responding to the survey said they plan to slash jobs.

“This comes as no surprise,” PwC said in a statement. “After a frenzy of hiring and a tight labor market over the past few years, executives see the distinction between having people and having people with the right skills.”

Besides 50 percent of all respondents saying they’re reducing their overall headcount, 46 percent are dropping or reducing signing bonuses and 44 percent are revoking job offers.