Leading company directors predict a shake-out in the job market this year as wages and price pressures bite and business looks to make cost savings.

The directors, on the boards of companies in sectors as diverse as Westpac, Lendlease, Costa, Tabcorp, Seek, IAG and Rio Tinto, largely predict a soft landing for the economy as rate pressures start to ease, but they also warn that growth and investment will remain constrained and boards are shifting their focus to hiring freezes and job cuts.