Everywhere we look, small to medium businesses are closing one by one. There is no exemption, no one is immune to the damages that this global pandemic is causing the economy.
Summary:
– No employee would want to shut down operations.
– As much as possible, employers would hold off business closure as much as they could.
– However, the new normal makes it so difficult for most businesses to thrive.
Since a lot of companies are closing yet social distancing is still being implemented, how do you think employers are going about with their laying-off process in a more modern yet less personal way – through virtual meetings.
Laying-off or letting go of long-term employees is not easy. In fact, no good employer would want to do it in a time of crisis. The new normal makes it impossible for most businesses to thrive.
A long-term look at the situation forces most businesses to offer the early retirement of their employees. Retrenchment is also common these days but what makes it more painful is that most of these processes are done online with no personal touch or formality anymore.
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