Layoffs, hiring freezes and salary freezes may have finally peaked in U.S. companies, according to a Watson Wyatt update to its ongoing series of surveys.

Watson Wyatt says that most companies surveyed are planning no further hiring freezes (67 percent), organizational restructuring changes (65 percent) or layoffs (53 percent). Although the majority are not planning any further salary reductions (89 percent) or salary freezes (76 percent) in the next 12 months, the number that have already made these changes has risen sharply since February. Mandatory shutdowns (24 percent), a reduced workweek (22 percent) and mandatory furloughs (17 percent) have also risen sharply since February, Watson Wyatt says.

The survey also found that only one in four employers (26 percent) plans to increase cost-cutting initiatives over the next 12 months, a sharp decline from the 51 percent planning more cost-cutting measures in February. Watson Wyatt's latest survey includes responses from 141 employers and was conducted in April 2009.